In light of the incredible hype machine that propelled Facebook onto every front page and magazine cover and lead story in the nation, the performance of the stock-to-save-mankind could only be described as…uh, well…flat. Analysts were all atwitter (no pun intended) with what was expected to be the greatest IPO in the history of the market. At the end of the day, the incredible, most excellent, spectacular, stupendous stock of a million lifetimes rocketed all the way up to…uh, about $38. Exactly where it started – 38.27 at the close.
Facebook was supposed to be the greatest thing ever to happen to high tech since the bubble burst in the 90s…Now it looks like “analysts” might have been bit premature in their assessments of facebook’s ability to heal the sick, raise the dead and divert the oncoming asteroid that was on a collision course with Earth. Thank God for Facebook, it’s here to save mankind!
Only it didn’t. And I’m wondering if it ever will. New users are trending down, revenue per user is flat. And to make it a 100 Billion dollar company, they’d have to have about half of the planet on board…so far they’re about 15% of the planet. They got a long way to go.
And now there’s gotta be some egg on the Facebook of every pundit who relentlessly hyped it. And you can bet there’s some red-faced Facebookers wondering how the stock fell so flat on it’s face-…wait for it…wait for it…OK – never mind.
But you get it, right? This was almost as important as Jesus. Now pundits will backtrack and say that 38 was the right price for the stock to be offered and Facebook didn’t “leave any money on the table,” and that “market has spoken and operated efficiently.”
Bullshit. What happened was they pimped it for all they could, squeezed every bit of life out of it they could through marketing and hype and spin and what they got was a flat open, a small surge and a flat close. FLAT – and for a Superman of a stock, flat is like dead.
I’d rather have gold than a share of Facebook. If I had a choice between buying gold and buying Facebook, that’s a no brainer. I’m buying gold in a heartbeat. Because gold is not going to be replaced by Pinterest, Instagram, or Zookster, (I made that up, I think). The value of gold will stay strong when Facebook and all the others fade and are replaced by better, more refined, more efficient, Stepford versions of themselves. If you want to visit a gold buyer who’ll give you straight answers to your questions, call me at Houston Gold Merchants. 832 259 7225
