Facebook sure has some fickle friends.
It's hard to believe that nearly three months ago, we were all talking about the Facebook obsession. It was one of the most talked-about IPOs of all time. But oh, what a difference 91 days makes.
Today the stock hit another all time low, down more than 4% to close at $19.05. That's off its IPO price by more than 50 percent. And that kind of hit is spawning countless questions about both the company's future and that of its 28-year-old leader – Mark Zuckerberg.
Here with more are Shayndi Raice, a reporter for The Wall Street Journal who recently wrote a report about the company's stock troubles, and Joanne Lipman, an author and Newsweek columnist.
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I don't know much about business,in my opinion facebook is still famous,it makes me open to world wide,facebook is a lot of useful for me,I will pray for facebook.I have faith.
The sad truth is facebook is about bored people posting status updates for their lonely cyber-friends to read. is there a product being offered and sold? Are there any profits being made (even from advertising)? Until this happens, I predict Facebook will go the WebVan way... anyone remember WebVan?
I don't know if it's because he wore a hoodie to the roadshow, it seems to have more to do w. the $70x Price-to-Earnings.
$12/share, that's all I'd give 'em.