This of course hasn't helped the price of companies that own lots of shares of Facebook. A free list of these 'Facebook Stocks' can be found at WallStreetNewsNetwork.com.
Thursday, July 26, 2012
A Slap in the Facebook
Facebook (FB) was hit hard today, dropping over 10% in the after-market. The company released earnings today for the first time since the IPO. The company's revenues were $1.18 billion, up from $895 million a year earlier, an increase of 32%. It wasn't enough for the analysts, so the stock tanked. The current price is the lowest it's been since the stock went public.