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Facebook (FB -4%) can't catch a break. Shares are making new lows again, and are now barely...

Facebook (FB -4%) can't catch a break. Shares are making new lows again, and are now barely above $20. The selloff has become bad enough that California may have to revise its budget assumptions. Facebook has received some more bad PR (previous) courtesy of developer Dalton Caldwell, who accuses Facebook execs of threatening to crush an app he was building (allegedly for affecting Facebook's ad sales) if he didn't agree to sell his company.
Comments (14)
  • Tack
    , contributor
    Comments (12761) | Send Message
     
    Maybe, they can change their name to MySpace. :-)
    2 Aug 2012, 12:26 PM Reply Like
  • Noreika
    , contributor
    Comments (457) | Send Message
     
    That's my bet.
    2 Aug 2012, 01:38 PM Reply Like
  • enigmaman
    , contributor
    Comments (2686) | Send Message
     
    maybe change their name to "Get Out of My Face "
    2 Aug 2012, 12:55 PM Reply Like
  • BlueCollarBlueDog
    , contributor
    Comments (94) | Send Message
     
    The virtual reality state catches a social networking disease.
    Like les socialistes heard what they wanted Draghi to say last week.
    2 Aug 2012, 01:03 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1000) | Send Message
     
    See ZNGA action? Yeah, that's where this horribly over-priced, over-value stock is going (imo).
    2 Aug 2012, 01:15 PM Reply Like
  • Eric_SA
    , contributor
    Comments (32) | Send Message
     
    The company can reach close to 14% of the world population. What other site can do that? MySpace never had that type of reach.
    2 Aug 2012, 01:27 PM Reply Like
  • chopchop0
    , contributor
    Comments (3138) | Send Message
     
    pointless if they can't actually make a profit doing that. Airlines fly millions of people every year. Do they look like good companies to invest it?
    2 Aug 2012, 02:10 PM Reply Like
  • Eric_SA
    , contributor
    Comments (32) | Send Message
     
    You can't compare the two industries. $1Million per day for a sponsored story! How is that not a good way to monetize something?
    2 Aug 2012, 05:42 PM Reply Like
  • lesaroka
    , contributor
    Comments (9) | Send Message
     
    What is so different about Facebook today than 60 days ago? This is like giving up on a horse when it's barely left the chute. I can't see any rational reason for the drop in the stock. What were all these investors expecting to see in 2 months? It's my belief that anyone who bought facebook as a short term investment must have had completely unrealistic expectations.
    2 Aug 2012, 02:28 PM Reply Like
  • chopchop0
    , contributor
    Comments (3138) | Send Message
     
    The underwriters had unrealistic expectations when they priced facebook with a $100 billion market cap
    2 Aug 2012, 03:17 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    It was priced for extreme growth. They didn't deliver.
    2 Aug 2012, 04:42 PM Reply Like
  • Joe Sulaco
    , contributor
    Comments (24) | Send Message
     
    That's right. Wall St. is all about earnings and little else. Facebook didn't deliver. Bottom. Line. There's also dozens of baby Facebooks and mobile ad start-ups ready to take a big bite out of that pie.

     

    I really have no idea why anyone owns the stock, frankly.
    2 Aug 2012, 07:35 PM Reply Like
  • pollyserial
    , contributor
    Comments (1055) | Send Message
     
    I agree that there's no good reason to buy FB but 'Wall St. is about earnings and little else'? Hello, Amazon? CMG? Etc. etc. I would argue the inverse in fact. Wall St. is primarily about exploiting pricing anomalies in one direction or the other.
    2 Aug 2012, 07:56 PM Reply Like
  • thediesel28
    , contributor
    Comments (3) | Send Message
     
    i thought there was a weird tax situation with facebook employees, and that they were taxed on the IPO price weather they sold or not, and that the company had put a certain amount of cash aside to cover it. Poor California, cant catch a break
    2 Aug 2012, 08:09 PM Reply Like
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