Facebook Earnings Second Take: New All-Time Lows!
Facebook, Inc. (NASDAQ: FB) was initially taking back some of the Zynga Inc. (NASDAQ: ZNGA) related losses today. That was then. While the social media giant managed to meet earnings estimates (or beat depending upon your consensus), revenue and monthly…
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That was then. Rather than trading up, Facebook’s after-hours reaction has shares deeply in the red. In fact, this may be an all-time low. Facebook shares are down 7.6% at $24.75 ad we cannot help but note that the post-IPO trading range was $25,52 to $45.00.
What is happening is a deceleration of daily active users, which means that there is the beginning of a social media fatigue. Daily active users were 552 million users.
We have a serious question here. How many of the millions of active daily users are in school, are stay at home moms or dads, retirees, and/or unemployed?
It is no wonder that so many Facebook investors feel like they were suckered into a sham. As a reminder, Facebook is one of the leading offenders when it comes to big companies where shareholders have no power at all.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
