We're hovering in the mid 30's this afternoon. Trading volume to date suggests that most of the insiders are long gone, having dumped their over-hyped stock on a bedazzled public.
So what's Facebook really worth? Something, for now. Ten bucks a share?
What kind of revenues can the company expect going forward? What's the next fad, the next tech breakthrough that will make Facebook shrink faster than it blossomed?
Who knows?
At ten bucks a share it's still far from a sound investment. I'd call it a speculative buy at $10.
In the meantime, the smart money is shorting the bejeezus out of this turkey.
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