Facebook shares reach new low; $50 billion in market value lost

LA Times ^ | 9/4/2012 | Jessica Guynn

[mojito]

Facebook shares scraped a new low Tuesday.

The new drag on the already leaden stock: Analysts from two of Facebook’s 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.

[mojito]

Faceplant.

[thesearethetimes...]

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.
Tatt

[GeronL]

They were a bit late to the dot come bubble crash

[South40]

George Soros spent around $10.6m buying 341,000 shares. lol!

George Soros 'likes' Facebook with $10m investment

[Mears]

A year ago I told my grandchildren that Facebook would be virtually gone in 5 years.

Four more to go.

.

[mojito]

May God share His strength. We cannot prevail without it.

Amen!

[The Working Man]

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.

[bigbob]

My projection - delisted within a year of the IPO, gone withing three.

[lightman]

De wimmen is losing Pinterest.

[Sacajaweau]

Mark’s wife is wondering what she got herself into.

[FatherofFive]

My projection - delisted within a year of the IPO, gone withing three.

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.

[Chode]

[n230099]

Interesting that this California paper neglects to include the utter disaster that their State budget people got themselves into when they bought into this IPO.

The Mercury news however has...

[liberty or death]

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.

[sushiman]

Nobody sends me email any longer . Everybody I know can be contacted via Facebook , and one can even do live chat with a friend .

[upchuck]

Facebook is evil. Just deserts.

[funfan]

You can almost hear the Democratic controlled California Legislature sobbing along with Jerry Brown. They
had already put the higher share rate into their budget.

[nascarnation]

putting in a bid for Facebook at $.20 each for a thousand shares

In investing, that's called "trying to catch a falling knife". Usually not a good outcome....

[nascarnation]

Wait ‘til Obama loses and their plan for federally guaranteed state debt doesn’t happen.

Then you’ll really see some tears.

[The Working Man]

I’m sorry that you didn’t get the joke. But that’s ok, not everyone has the same sense of humor.