Facebook Still A Long Way From Providing A Margin Of Safety
by Tim Travis
Trading at $21.94 Facebook Inc. (FB) has a market capitalization of about $53 billion. This is down considerably from the IPO price, where speculators took a 1999-esque approach to piling in on the belief the stock just had to spike from the IPO price. Facebook's management and the investment banks managing the deal provided plenty of alcohol to these already drunk market participants by increasing the share offering, and raising the offering price. Before and after the IPO, I argued that Google Inc. (GOOG) would be a far better play at their respective valuations, and I still believe that to be the case today, despite Google's rise and Facebook's decline. read more »
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