Facebook Stock At New Low - $19
Even in 1944 a pair of academics named Max Horkeimer and Theodor Adorno wrote that "...the triumph of advertising in the culture industry is that [people] feel compelled to buy and use [certain products] even though they recognize them as false. Could that be what is going on here? Perhaps, but notice how no one who seems to have bought the FB stock dare comment. Everyone who comments is the smartest person in the room. Interesting. People now seem to want to cultivate true need, true business that builds and creates something valid. This FB situation will probably make for changes that last long past the closing of their offices one day.
Facebook is now worth $19 a share.This is half its original IPO price of $38 in May. The company's founder and CEO Mark Zuckerberg's seat may be in danger as critics want him to resign claiming he is not fit for the job. The lockup period has expired and more and more investors sell their shares. Facebook has now lost $40 billion, which is half of its market value. On Thursday alone, Zuckerberg lost about $670 million.
What Others Are Saying...
Facebook's stock is falling because it was hugely overpriced ... A lot of the valuation was bogus and most people were too ... greedy/blind to ... admit it.
I still want to know what fools bought stock in the company? I mean seriously their only income is internet advertising ... Anybody with intelligence saw this coming ...
... You really need to account for the herd mentality here. This stock came out overvalued and hyped, and there has be a drastic revaluation ...I would guess that much of today is all these new Facebook millionaires who had stock options trying to cash in. ... I bet Facebook's stock will go up from this point, at least modestly.