There isn't much that hasn't been written about Facebook. After all, it will likely go down in history as one of the defining company's of the start social media age. It's in the headlines almost every day, whether it be about a company it's purchased, its share price or some add-on to its current suite of tools.
Technical: while most IPO investors would no doubt be happy with the return on their investment to date it hasn't all been plain sailing. In fact the share price all but halved after the IPO before starting to rise towards its current level. Furthermore, investors will be keen to see the price move back above the March highs before rejoicing too much. If that doesn't happy we could well see a lower higher printed which would not be good news for longer term investors.
IP's Strategy: Facebook only has only been included in the S&P 500 since December last year. As the IP strategy only considers constituents of the S&P, our first Buy alert for the stock was only generated at the beginning of June, with not much action since then. As with all out trades we'll take whatever Mr Market wants to dish out.