21
May
Shares of Facebook stock debuted at $38 Friday. The stock was already down to $33 by the middle of the second day of trading. The company had been valued at $105 Billion, but is now valued at $92 Billion based on its stock price. Market analysts are calling the IPO a failure and predicting a new tech bubble burst. Some are predicting that a more realistic value of the Facebook stock is $20-$24.
Critics pointed out that at $105 Billion, each individual facebook page/profile needed to be worth an average of $116. FAcebook advertisers had already begun pulling ads before the IPO. GM spent $10 million in ads on Facebook last year, but announced recently it was pulling all ads.
Facebook and Google censor the CofCC, so censor their ads: Block facebook, google, and youtube ads with adblock. Adbock Plus is available for Firefox, Chrome, Seamonkey, and K-Meleon. It is used, with great success, by the staff of cofcc.org.
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on Monday, May 21st, 2012 at 10:51 am and is filed under Left Wing.
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