Skip to comments.Facebook shares reach new low; $50 billion in market value lost
Posted on 09/04/2012 4:45:42 PM PDT by mojito
Facebook shares scraped a new low Tuesday.
The new drag on the already leaden stock: Analysts from two of Facebooks largest underwriters on its botched initial public stock offering cut their price targets.
The Morgan Stanley and JPMorgan Chase analysts also reduced their revenue projections.
Shares closed down nearly 2%, or 33 cents, to $17.73 as some on Wall Street, floored that Facebook has shed $50 billion in market value in just three months, said they feared the company's stock is nowhere near bottom.
(Excerpt) Read more at latimes.com ...
Thanks for the laugh, FRiend, on a day when the DNC is making the lines so very clear.
May God share His strength. We cannot prevail without it.
They were a bit late to the dot come bubble crash
A year ago I told my grandchildren that Facebook would be virtually gone in 5 years.
Four more to go.
I told my wife I was putting in a bid for Facebook at $.20 each for a thousand shares. She said that sounds about right to her.
My projection - delisted within a year of the IPO, gone withing three.
De wimmen is losing Pinterest.
Mark’s wife is wondering what she got herself into.
They do have a billion users - people today need something like Facebook, and here it is. I think it will stick around, but it is a $3 stock at best.
The Mercury news however has...
I’m a father of 5 too and agree this will not die. All of my 5 adult children, their friends & family and my wife all love keeping track of eachother on it. I’m the only one not on it.
Nobody sends me email any longer . Everybody I know can be contacted via Facebook , and one can even do live chat with a friend .
Facebook is evil. Just deserts.
In investing, that's called "trying to catch a falling knife". Usually not a good outcome....
Wait ‘til Obama loses and their plan for federally guaranteed state debt doesn’t happen.
Then you’ll really see some tears.
I’m sorry that you didn’t get the joke. But that’s ok, not everyone has the same sense of humor.
Not a question of no one using it, it’s a question of making money while providing the service that everyone uses for free.
Yep. Not part of it myself but I see all around me what you say is true. All my kids and grandchildren live within 20 miles so if they want to talk to me they can stop by or call my cell. If I lived overseas like you I’m sure I’d be a huge facebook user. It’s a great service, just hate the fact that all these young rich Jewish guys are flaming commie libs.
Oh I get the point. It is going to find a way to generate income though, simply because it has to.
But, 38.00 a share? WTF?
Facebook is tracking and copyrighting the lives of all those in perpetuity who spend their time inputting their private information of friends, activities, political leanings, photographs, etc.. It won’t be long until most people start to understand that privacy is more important than allowing a corporation to hold the rights to one’s life. These liberal upstarts have colluded with the Wall Street gang to strip $50Billion from the fools who bought the stock.
I agree with others that the public foolishly bought into the concept of sharing private lives, while Facebook is recording it all, and now the smart money and people in the know and who can see just how destructive that lack of privacy will be to careers and privacy do understand that we will soon not want it.
Zuckerburg supposedly stole the concept originally, and now he seems to have stolen a lot of money for an imaginary business that makes no money.
Zucky was just following the Hillary Clinton model.
Remember how valuable the FBI files were....any chance Craig Livingstone is on the payroll @ FB?
And they all pay nothing to use it. Hard to make money on a 'free' service, especially one that is hard to monetise on moble apps.
They will make some money, but noting to justify the high valuations.
“Facebook is evil. Just deserts.”
Right on! I loathe it too! Talk about and invasion of privacy.
” just hate the fact that all these young rich Jewish guys are flaming commie libs. “
I hear ya !
Facebook is an Eighth Commandment-free zone predominated by condependant narcissists and voyeurs. Its omnipresence and entanglement into e-commerce are spreading like metastatic cancer.
One of the marks of the Beast is a white lower case “f” on a blue square
The "get rich quick" crowd is generally clueless. That's why Wall Street makes money no matter what stock values do.
Facebook is an $8 stock, period. Once it goes below that, it becomes a potential buying opportunity. There is NOTHING on the immediate future that remotely makes that stock worth a dime more than that.
If your money is in any fund that bought this stinker and it isn’t chartered with a 10 year+ time horizon you need to get your money somewhere else asap. Any manager buying this junker is being a fool with your money.
It’s not going to die, but it’s not and never was a $38 or whatever it was stock. It’s an 8-10 stock. It’s profitable, it’s not vaporware. Try have to work on better monetization of mobile particularly but they aren’t going anywhere.
I give Facebook credit they bilked every penny they could in their IPO.. You sell an $8 item for $38 to millions of buyers you aren’t a fool but youdo show how foolish a lot of folks on wall street are
It ain't 'lost'; as it is STILL in the hands of those to SOLD to the suckers to begin with!
I've noticed this as well.
OLD geezers (HMMmm...) use e-mail; young folks hardly even respond to it.
One needs to have bought a
smart expensive phone to REALLY use Facebook to full advantage I've heard.
Live chat with friend?
Like on the PHONE???
There ya go!
” Live chat with friend?
Like on the PHONE???
I’m in Japan . Don’t own a smart phone .