Facebook = $22.28

As I look at Facebook ($FB), the stock is now down to $22.28. That’s more than half off the high price from the day of the IPO. I knew the stock was overpriced and I said so at the time. But I didn’t think the balloon would deflate so quickly.

I’d say FB has a fair price of about $14 per share, but I wouldn’t be interested unless it’s going for a steep discount. I might be a buyer at $10. Remember that with investing, you should never take risks you don’t need to.

Posted by on July 31st, 2012 at 10:30 am

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