At 9:30am ET Facebook shares trade close to $31, down 8%.
Facebook (FB) shares slide for the second day. FB closed at $34 yesterday and is now trading close to $31 (down 8%). Facebook has closed on Friday at the IPO price of $38. Now the market seems to try to find the right value of Facebook without the hype. As it looks the FB stock will fall through the $30 mark today. At what value is Facebook a buy?
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The next milestone will be the next Facebook Quarterly Earnings announcement.