Last Friday’s poll asked whether Facebook seemed a fad. Most respondents said no, but almost as many said that it was, or that they weren’t sure. Commenters were, I’d say, skeptical of the company.
Well, fad or not, all the world’s talking about the problems FB’s stock is having. (I didn’t think it was a fad, but I don’t have any stock in the company, either.)
Finance blogger Barry Ritzholtz @ The Big Picture gives it to Facebook, and anyone standing nearby:
Thus, what we see are a series of bad decisions made by Facebook’s executives going back many years. The insiders got greedy, too clever by half, in how they used secondary markets. They picked a bad banker and an awful exchange. The stock broke syndicate on Monday morning, and I would not be surprised to see it eventually cut in half from the way-too-high offering price.
Via The Big Picture.