Facebook hits a speedbump; stock at all time low


  • BACKGROUND

Facebook (FB) piled a huge amount of data on investor’s lap this past week in the wake of its quarterly earning results. What presented a huge qualm to investors all over was that FB offered no financial forecasts for boosting potential advertising. This sent the stock ailing to a all-time record low of $24, from a haphazardly executed IPO price of $38 in May. Foreshadowing this slipshod of an IPO, FB saw break-neck growth in the double to triple figure category. At the time everyone looked up with glee at the dawning of the tech companies IPO, but we see all hope is slowly turning gloomy. Behemoth funds, such as Fidelity, saw their investment shed by a huge amount – nearly $106 million in losses. Continue reading