The selloff in Facebook shares deepened on Tuesday, as investors continued to question the stock’s valuation after Reuters reported that underwriters cut their revenue forecasts for the company before the IPO.
Facebook’s shares hit a low of $30.98 on Tuesday, 8.9 percent below Monday’s close, and a loss of 18 percent from their $38 IPO price.
At the low, the stock had lost 30 percent from an intraday high of $45 hit shortly after trading started on Friday.
More than 28 million shares had traded in early action on Tuesday, making it one of the most actively traded in U.S. markets. Facebook’s revenue growth has been slowing in recent quarters, raising flags among some who believe the company should show consistently strong revenue growth at this stage in its life.
The company surprised investors after disclosing, just days before the initial public offering, that its revenue may be hit by more users transitioning to mobile platforms, where advertising is less proven.
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3 Responses
You could see what koach the Kinus had that this dirty site will have no value one day.
Was it a Kinus or an Asifa?
From what I know, I am not a friend “no pun intended” of Zuckerberg. For such a person to outright bluntly turn away from Judaism (and any religion) deserves no respect. Last week he married a Goy on Shabbos, of all days. From what I read about him is he proclaimed he would be atheist after his bar mitzvah. Isn’t that all very nice?