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
- Ramp Up Your Weekly Market Preparation | iBankCoin.com
- The Status Quo Persists | iBankCoin.com
- When A Marketing Campaign Goes Horribly Wrong | ZeroHedge
- Metals: Start of a New Trend? | Financial Sense
- Your Wall Street Slumlord Arrives in Europe: Goldman Launches "Buy-To-Rent" In Spain | ZeroHedge
- USDJPY (And Nikkei) Surge Higher as Japanese Car Sales Collapse To 3-Year Lows | ZeroHedge
- The Morning After: What Happens When A Government Destroys Its Currency | ZeroHedge
The most relevant financial news and articles from the Internets
- 9 Disturbing Revelations From The New Book About Fraternity... | Business Insider
- STOCKS GO NOWHERE: Here's What You Need To Know (DIA, SPY, QQQ, TLT, TSLA, HD, SPLS, ODP,... | Business Insider
- Facebook And Google 'Degrade Our Humanity,' Says 4chan Founder (FB,... | Business Insider
- Japanese Porn Queens Raise Thousands Of Dollars For Aids... | Business Insider
- Putin urges Europeans to have 'common sense... | Business Insider
- THE SOCIAL-MEDIA DEMOGRAPHICS REPORT: Differences In Gender, Age, And Income At... | Business Insider
- ... | StreetInsider.com