This could be one of the shortest lists we have published this year. In the table below, we list the Russell 3000 companies that have seen larger percentage declines than Facebook's (FB) 31.92% drop since the company priced its IPO on 5/17. As shown, there are only six companies that have seen a larger decline in percentage terms than Facebook (FB).
Taking a closer look at these six stocks, this is probably not the company FB intended to keep when it IPOd. Not a single company on the list had a closing price of more than $2 per share today, and one of the companies, FriendFinder (FFN), is often described as the 'adult' version of Facebook (FB). Oh, how the mighty have fallen. Three weeks ago, many were saying that FB would be among the world's most valuable companies. Today, the best it can do is make a list of poor performing penny stocks. At what point do comparisons between Facebook and MySpace become offensive to MySpace!
Tuesday, June 5, 2012
Stocks That Have Underperformed Facebook Since May 17 (FB)
Lifted in toto from Bespoke Investment Group: