New 52-week low for Facebook
Facebook (FB) is down 10% after-hours and only a few pennies above $24. Come Friday it will be a brand new 52-week low for Facebook shares. Get ready to hear about fb all day and read 10,000 stories about it.
Facebook trading almost 30% down from its $38 price back when the IPO could do no wrong. Bottom line is Facebook's profit wasn't good enough for the Street and the company increased its spending.
Facebook's Q2 revenue did increase and came in at $1.18 billion. That wasn't quite good enough for the Street which was expecting revenue of $1.16 billion. The company reported a net loss of $157 million, or 8 cents per share. The big expense was marketing and sales which hit $392 million.
Expect Facebook shares to open tomorrow in the low to mid $24 range. If the stock keeps dropping its going to attract buying interest.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Weekday Wrap-Up: No Hyperinflation, Years of Low Oil Prices, and a Bubble in Stocks | Financial Sense
- Things That Make You Go Hmmm... Like A 'Run' On The Gold 'Bank' | ZeroHedge
- 5 Things To Ponder: Variegated Contemplations | ZeroHedge
- The Baltic Dry Index Has Never Crashed This Fast Post-Thanksgiving | ZeroHedge
- 150 Years Of Global Monetary Policy Summed Up In One Word (And 1 Chart) | ZeroHedge
- Gun Violence In America (In 6 Uncomfortable Charts) | ZeroHedge
- Join Three Pro Traders for a Live Education Session Monday Night! | FundMyMutualFund
The most relevant financial news and articles from the Internets
- Streetinsider.com's Hot Lunchtime... | StreetInsider.com
- Here's The Most Educated Town In Every State | Business Insider
- Attack could cost Sony half a billion dollars: experts | Business Insider
- Israeli air planes strike in Gaza Strip after rocket... | Business Insider
- 5 Awesome Google Features You Didn't Know About | Business Insider
- Steyn takes 6 for 34 as South Africa beat West... | Business Insider
- Unusual 11 Mid-... | StreetInsider.com