By Paul Losch
Facebook IPOUploaded: May 31, 2012
I admit I don't entirely get Facebook.
Some of it is generational, some of it is how I choose to use my time, some of it is a matter of personal privacy, and likely some other things where Facebook and I just don't "like" each other. Thumbs sideways.
I am not surprised that the stock price at its IPO has plunged since then.
It is a fine company, and has provided people around the world to make things happen that have changed their lives.
Let's face it though. It is a media/entertainment company. Cutting edge, forward thinking, and changing things like Disney did way back when. Great to have its idealism in its culture.
As a stock buy? I don't think so. It is a viable company, but the current valuation is over the top. I am not a financial analyst, but I will predict Facebook stock will drop to the "teen's" fairly soon.
Wish I had shorted it.