Let's go back two months ago when Facebook went public. The initial public offering (IPO) for the social media giant known as Facebook was at $38 and went up to $42 on that day. The stock was deemed to be a can't miss success in the future as thousands of investors pounced on the price.
The problem is that the stock continues to go further and further down the drain. At tonight's closing of the NASDAQ, Facebook stock ended up being almost twice as less when it started at $21.17.
It looks like the downwards spiral for Facebook will continue. There is nothing besides advertisements that gain legitimate revenue for the company. People have finally tired of spending money on the virtual games on the site.
Come join me on the ride as we watch Facebook stock eventually go to zero dollars.