Overvalued, overhyped, and apparently somewhat corrupt. Its a new bubble.
Thomson Reuters Starmine, meanwhile, more conservatively estimates a 10.8 percent annual growth rate — almost exactly the mean for the technology sector — which would value the stock at $9.59 a share, a 72 percent discount to its IPO price.
via Reuters
In the run-up to Facebook’s $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank’s consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company.
via Insight: Morgan Stanley cut Facebook estimates just before IPO | Reuters.