Facebook IPO Being Described As Lackluster In Light Of Shares Falling
Mark Zuckerberg
The Facebook IPO that hit Wall Street in America yesterday, described
as the biggest of its kind, is being described as "lackluster" and one
that "fizzled." Prices initially rose, then dropped to $38.00 per share,
forcing stockbrokers to intervene in propping up the price.
This is well below the value of other companies, such as Facebook
contemporary Google and investment titan Berkshire Hathaway. On the eve
of the initial public offering, General Motors yanked $10,000,000 in ads
from Facebook, stating they did not work, having no consumer impact.
The most valuable companies in America are Apple, Wal-Mart and
McDonalds. Facebook has entertained many, but for overall, sustainable
value, the Judiciary Report is of the belief, social networking can be
fickle and other companies with a more solid business plan and durable
products, have a better chance for long term sustainability.
After all, look what happened to MySpace. One minute it was the
biggest thing in social networking, the next people stopped using it and
Rupert Murdoch was forced to sell it for next to nothing, compared to
what he paid for it a few years prior.
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