Facebook is trading under its offering price in the premarket, right now trading at $36.65. Wall Street fleeced the public again. I was really shocked to see how much hype there was last week with FB, I don't get it. It's a horribly overvalued company which is already past its peak growth rates. GOOG is such a better company. If you are going to get most of your revenues from advertising, it would be good to have your users click on the ads. No one clicks on the ads! I never believe in new paradigms and phantom growth drivers. I heard that a lot during the late 90s and all of it was an excuse to justify ridiculous valuations. Social media is the latest fad and it will die out and become a small niche of the internet.
Still bearish on this market. Stay with the trend.
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2 comments:
1 day event or do we go to 1340.
Most likely a one day wonder.
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