If Wall Street could truly predict a company’s future, then Facebook should be packing up its offices this morning. The social media giant’s stock value dropped close to 10 percent on Monday, to $20.79. The trigger for the stock drop — this time — was a report in Barron’s questioning whether Facebook had the wherewithal to successfully develop a mobile ad platform. This is, however, just one episode in Facebook’s short but dismal career as a public company. Since its IPO debut, the stock has fallen sharply from its $38 per unit launch price.
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Wall Street Blesses Google, Curses Facebook
Posted by: Erika Morphy September 25, 2012 10:16 AMIf Wall Street could truly predict a company’s future, then Facebook should be packing up its offices this morning. The social media giant’s stock value dropped close to 10 percent on Monday, to $20.79. The trigger for the stock drop — this time — was a report in Barron’s questioning whether Facebook had the wherewithal to successfully develop a mobile ad platform. This is, however, just one episode in Facebook’s short but dismal career as a public company. Since its IPO debut, the stock has fallen sharply from its $38 per unit launch price.