Aug
16th
Thu
16th
You’ve had a failed IPO, the stock has been cut in half, a sloppy quarter and a big lock-up expiring. Every one of those tends to erode faith
—
Michael Binger, a portfolio manager at Gradient Investments
I cringe when I read this stuff. I am not the biggest fan of Facebook but the quarter they had was not that bad and the IPO was a HUGE success. The company raised $12 billion at a valuation double of what the public market seems to want to value it at today. I never wanted to buy Facebook shares but at this value they are getting close to where it si just worth taking a flyer on it. These same ass hats in Wall Street will all of a sudden turn into facebook’s biggest fans a shoot the stock back up again.
