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Facebook takes a bath

Original post made by FB, College Terrace, on Jul 26, 2012

Facebook shares are down almost 20% this afternoon after both they and partner Zygna reported disappointing quarterly financial reports. Price crashed down through the $24 price point, which is a 1/3 plunge since their recent IPO. Maybe the College Terrace people were smart to kick Facebook out of Palo Alto. Think about how home prices in that neighborhood would be affected if Facebook goes bust and all those employee-owned homes get foreclosed.

If you have a home for sale right now, better cut your price and hope for the best. All those FB millionaires have lost 1/3 of their net worth in the last few weeks and may not be so free spending in the near future.

Comments (3)

 +   Like this comment
Posted by Sharon
a resident of Midtown
on Jul 26, 2012 at 6:52 pm

The Face Book quarterly results are very bad-but not surprising as FB has declining advertising revenues and their business is predicted to fail.

The IPO made a lot of money for insiders but the regular investor was fooled and deceived about the state of FB future earning.

FB was a fad that is going out of fashion.


 +   Like this comment
Posted by alter Sharon
a resident of College Terrace
on Jul 26, 2012 at 6:59 pm

FB college terrace = Sharon

Sharon has had it out for FB since someone defriended her.

Of course, she's an expert on fads.

Not.


 +   Like this comment
Posted by Ken
a resident of College Terrace
on Jul 26, 2012 at 7:02 pm

ding, ding, ding

Alter nailed it.


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