Yes, it is still early days for the newest addition to NASDAQ, but the signs are not good. Whether it’s fair or not, there’s a lot of financial commentators who have fallen out of love with the “darling of social media”, and the “all American dream” – Facebook.
In my humble opinion (and what do I know, because I’m just the Philthy man on the street), FB is drastically over-valued, with way too many tourists and passengers amongst it’s ranks and has an unproven track record when facing uncertainty. After so many years of user-based growth and now they need to weather the storm of the business community asking the tough questions.
So far, FB are stuttering. We’ll see if they have the gonads to pick up and deliver on their earnings potential.
900 million users? So what, I’m still not impressed.
We had the dot com bubble burst in 2000, and with FB leading the way I predict a social media burst within the next 12 months. You read it here first.
By the way Mark, congratulations on the wedding