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Facebook (FB -3.6%) has fallen below $27 in the wake of Bernstein's critical report and news of...
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Monday, June 4, 2012, 1:53 PM ETFacebook (FB -3.6%) has fallen below $27 in the wake of Bernstein's critical report and news of a new Google local ad sales push. Other volatile Internet and social media names are unsurprisingly also diving: ZNGA -4.2%. GRPN -7.9%. YELP -6.8%. RENN -5.1%. Z -5.9%. Henry Blodget, who previously set a $16-$24 PT range for Facebook, discusses how multiple compression appears inevitable for the company as growth slows, judging by the histories of tech giants.
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This news story has 6 comments:
it crashed..locked in 12% profit with options...caught it at the bottom and right before green..plunged.
Why don't the FaceBook haters see where this is going? The next closest "gambling" enterprise is only a tenth the size of Facebook. The income from these ventures is going to be enormous.