Facebook's stock might be getting another boost soon, thanks to Nasdaq.
The social-networking company is set to replace Infosys on the Nasdaq 100, the collection of the largest 100 nonfinancial companies trading on the stock exchange. The company will be added to the index on December 12, according to CNBC, roughly seven months after its difficult IPO.
Getting listed there might buy them some time to create new looms but I stand buy my earlier prediction that I made somewhere here on WW that I expect to see the stock price at $7 by the summer of 2014.
The absolute foundation of a stock price is financial performance not propping by fund managers as indicated in that brief article. There is absolutely no substantiated evidence in the article other than where it says "the stock price may experience an uptick as index fund managers snap up the stock to ensure that their fund reflects the makeup of the Nasdaq 100". Is that what history shows?
It reads like an article that the author wrote on his Blackberry during the elevator ride from the lobby to the 37th floor on the way in to work.
There is quite a bit of price manipulation going on right now. In other threads here I have stated that I strongly suspect there is insider trading going on but I don't follow stock market activities anymore like I did many years ago so I couldn't name any names to give it buoyancy.
I recently came across 2 very good insightful articles a week or so ago by authors who weren't concerned about spilling the beans on what's really going on with Facebook stock these days.
I'm not trying to hijack this thread but it is worth posting to have a comparison reference to the hype so as to not get taken in by it. I like this first one for a good explanation to what's unfolding [seekingalpha.com...] and this one is quite good as well [seekingalpha.com...]
I understand where you are coming from SevenCubed.
However, the gambler in me has never seen so much potential for revenue growth in any company. IF they figure out how to monetize the traffic from their vast audience they will have something extraordinary... if not my stock bet loses. I bet they will, ahhh but who knows!