Featured Articles

Intel refreshes CPU roadmap

Intel refreshes CPU roadmap

Intel has revealed an update to its CPU roadmap and some things have changed in 2015 and beyond. Let’s start with the…

More...
Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 30 May 2012 09:17

Facebook shares face plant, drop to $28.8

Written by Peter Scott



More investors get Winklevossed


Facebook shares slid to $28.8 on Tuesday, hitting a new low. In just seven days of trading the social notworking giant lost $25 billion in value. Not a good start by any standard.

The stock seemed to stabilize in the $31 to $33 range late last week, amidst a lot of bad press and controversies regarding Facebook’s and Nasdaq’s handling of the IPO, not to mention some shady dealings on the part of underwriters, i.e. Morgan Stanley.

However, this is hardly a surprising turn of events. Many analysts and tech writers issued repeated warnings ahead of the IPO, but hype eventually got the better of many small investors and even some major media outlets willing to drink the Morgan Stanly kool-aid. Yes, we are looking at you MSNBC.

Wall Street clearly needs to start doing more math and less coke. [Math or meth? Ed]

Last modified on Wednesday, 30 May 2012 09:20

Peter Scott

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments