Clearly people continued to hit the sell button when it comes to Facebook stock. Today it closed down almost 9% and it continues to slide in after hours trading. If it wasn’t clear before it’s becoming clear now. The stock is overvalued and I believe that it may have a ways to fall before it settles. To add to the turmoil, there are calls for an investigation into how this stock was IPO’ed:
The separate calls for review, by Securities and Exchange Commission Chairman Mary Schapiro and FINRA Chairman Rick Ketchum, added pressure on the company, its underwriters and the Nasdaq, all of which have taken blame for the stock’s harried opening and subsequent sharp decline.
Lovely. It’s clearly going to get worse before it gets better. We’ll see if the drop continues tomorrow.
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This entry was posted on May 22, 2012 at 9:43 pm and is filed under Commentary with tags Facebook. You can follow any responses to this entry through the RSS 2.0 feed.
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Facebook Continues To Nosedive While Investigatons Begin
Clearly people continued to hit the sell button when it comes to Facebook stock. Today it closed down almost 9% and it continues to slide in after hours trading. If it wasn’t clear before it’s becoming clear now. The stock is overvalued and I believe that it may have a ways to fall before it settles. To add to the turmoil, there are calls for an investigation into how this stock was IPO’ed:
The separate calls for review, by Securities and Exchange Commission Chairman Mary Schapiro and FINRA Chairman Rick Ketchum, added pressure on the company, its underwriters and the Nasdaq, all of which have taken blame for the stock’s harried opening and subsequent sharp decline.
Lovely. It’s clearly going to get worse before it gets better. We’ll see if the drop continues tomorrow.
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This entry was posted on May 22, 2012 at 9:43 pm and is filed under Commentary with tags Facebook. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.