Facebook's Rally May Be Over
by Bret Jensen
Being a Facebook (FB) shareholder since its IPO in May of last year has involved dealing with more ups and downs than going on some of the rides at Knott's Berry Farm. I was a skeptic of Facebook's valuation prior to the company going public. After its debacle of an IPO the stock plunged from its debut price of $38 a share to $19 a share four months later. The stock then staged a rally on better results from its mobile strategy and as its CEO started to directly address shareholder concerns to recover most of its losses and climbed back to $32.50 a share in January. However, in the last few weeks the stock has seemed to lose its momentum and seems destined to go lower in the near term. read more »
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