Wednesday, June 6, 2012

Faceboock shares up over 3% today on news that Canadian Psycho had 70 Facebook pages

Montreal police today revealed that Luka Magnotta, the so-called Canadian Psycho, had 70 Facebook pages.

Magnotta is the self-proclaimed gay porn star who cut up one of his lovers and mailed body parts to various Canadian political parties, and apparently some schools too.

The markets responded by lifting Facebook stock a dollar on the day.

That's about 3.6 % on a $25 stock, which is considered a good day's work by your day trader crowd. Hey, if you could do that every day you'd be doubling your money every couple of months!

In the long run though, it can't be great news for Facebook.

Product endorsements from a guy whose nick-name includes the word "psycho" aren't exactly what you want when you're desperately trying to keep your share price aloft.

Stay short!

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