What have I been saying all along? Facebook shares flopped yesterday, after being hiked up, they fell by 11%! The Zuck dropped by double figures in one go, surely THAT has to be an achievement all in itself? Because of that lovely big drop off they wiped off a tidy $11 billion off their capitalisation (whoops!).
From the day I heard they were joining the Stock exchange, I knew it was a bad idea, facebook itself as a social network, takes 5 steps forwards and 3 steps back, there’s too much emotional attachment to it, for example, they roll out a new feature, people hate it and they take 3 steps back, then they fix a bug and take 5 steps forward. There is a constant fluctuation in the social network alone, so why they put in on the LSE and the NYSE is beyond me.
Still, we don’t see any of that profit being rolled back in to Joe Public, if it wasn’t for us, Facebook would be another wannabe social networking site gathering virtual tumble weeds.
I have no training or experience in stocks and stuff like that, because to be quite honest, its all pretty much BS, so alas I am just a mere girl, but I can see a bad idea when I know it, you wouldn’t let a recovering sword addict visit the Japanese museum of swords would you? Well its the same with facebook, in Myspace’s heyday, they didn’t go hopping around in shares did they?
Maybe, just maybe, facebook might be up there with the big daddies Gold, Silver and Banks (slow and steady wins the race and all that jazz) in 10 years time and if that happens, I will eat the entire Oxford dictionary!
Who knows, maybe stock predicting is a hidden talent of mine, but I sure as hell won’t be honing in on that, until its my very last resort.
“You can put a makeup on a pig and put it in a dress, but its still a pig!”
Posted on May 22, 2012, in Another card to my deck., Lets have a mass debate!, Light Hearted Reads, Totes Awks.. and tagged Drop, Facebook, Flop, Investments, Stocks. Bookmark the permalink. Leave a comment.