I jumped into the chair for a pre- and post-earnings hit on Facebook ($FB) today. Here’s both clips, this was crazy!
and after, where the fun begins:
After that Maria cuts to a politician or something but Facebook just absolutely tanks. Shareholders realized that this caliber of growth does not command the multiple or the market cap we’ve given it, even in the high 20’s, down from the $38 debut.
It’s trading down at 23.95 as of this posting. For the best post-mortem I’ve seen, check out Michael De La Merced’s take over at DealBook.
(full disclosure: I have no position long or short nor do my client accounts)