3 days ago, I did mention about this company issuing its earnings.
Last night Facebook finally find the right sized shoe, and today this stock gaps up 20% with a $4 jump up. No doubt Wallstreet loves this fairy tale story, finally.
Check out what Wallstreet thinks about the stock:
Since the IPO, this stock has tumbled strongly, down by more than half of the opening price.
Does this stock have the chance to live in the fairy tale palace this quarter?
I would say probability is high, given the upgrade in the stock by Citigroup and Bank of America today. There may be more analysts that start to project a better future on Facebook earnings, which will be the main driver of the stock price.
Sometimes analysts' upgrades are contagious. The bullishness might start to catch on given this good quarter and relatively cheap price since IPO.
This is definitely one stock that I will keep inside my watchlist! Wait for this gap up to consolidate a bit, and pay attention on an outbreak...
But do bear in mind that its short float still remains high at 20%. I hope to see the short float decrease to less than 5% before I really go all out to FB :)