August 17, 2012

As Predicted

As I predicted before it went public, then again in June and again two weeks ago the Facebook massacre continues. Some Facebook shares became "unlocked" yesterday and the stock dropped about 6%, reaching a new low, closing below $20.

There are over 1 billion more shares still to be "unlocked" before year's end. This could get really ugly.

Update: Facebook seems to be in free fall, dropping another 4% today.

To my Charming and Loyal readers:
As you may know, I have been having a nightmare with my 3rd-party commenting system. I have gotten rid of it and have reverted to my old system. I'm sure this will create enormous new problems, but what the hell can I do? I am going to try to convert to the Blogger native commenting system as soon as I can. Please be patient and I'm sorry for the millions of comments I have lost. TAC


Ryan Wilson said...

I have known one person who didn't have a Facebook account. It seems so strange that a service with such a strong user base is not actually making much money.

Open question; If you had control of Facebook, how would you improve its stock value?

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