Facebook died after IPO on Friday. Since the bell it has now fallen from $45 to now $33 in 2 days. As what happen to Google and Baidu as I mentioned, this over hyped IPO needs a consolidation.
This is my last update on the stock before IPO:
Let it go bust before we enter! After it bust, only then will the big boys come in. No need to rush into this stock.
I think this bust is good for the stock as it will not raise expectations for its first earnings. Although I think this stock has the potential to be the next Baidu or Google, the big boys will come in normally after its first earnings, when it has proven that it is a growth stock.
So till then, let us be patient and cautious on this stock. There will be loads of opportunities on this stock! Let it become the darling of Wall Street, and we will have years to play this stock!