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August 3, 2012

Fools rush in where fools have been before.

Just 13 years after getting burned by the dot-com Internet debacle, investors did it again with social-media stocks.... Shares of Facebook, the No. 1 social-networking company, crumbled again Thursday,
trading as low as $19.82 before closing down 84 cents at $20.04. The once hugely hyped stock is now trading 47% below its $38-a-share offering price. -- Facebook stock near half-off price point

Posted by gerardvanderleun at August 3, 2012 6:40 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

A bust out. Suck it up.

Posted by: Frank P at August 3, 2012 7:30 AM

47% off!!!1!

I'm in, babaaaaay!!

Posted by: RPF at August 3, 2012 11:19 AM

Furthermore, the State of California bought enough of the stock to base financial projections on its success.

The state's Legislative (Mathematical/Financial) Analyst's Office [LMFAO, for short] said Wednesday that 'hundreds of millions' of dollars in assumed tax revenues may never materialize due to the continued slide in Facebook's stock price.

The Sacramento Bee, 8/1/12

http://blogs.sacbee.com/capitolalertlatest/2012/08/fiscal-analyst-hundreds-of-millions-at-risk-from-facebook-slide.html

Hey, if we take a loss we'll just have to sell more of it.


Posted by: Rob De Witt at August 3, 2012 4:00 PM

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