Facebook IPO Being Described As Lackluster In Light Of Shares Falling

Mark Zuckerberg

The Facebook IPO that hit Wall Street in America yesterday, described as the biggest of its kind, is being described as "lackluster" and one that "fizzled." Prices initially rose, then dropped to $38.00 per share, forcing stockbrokers to intervene in propping up the price.

This is well below the value of other companies, such as Facebook contemporary Google and investment titan Berkshire Hathaway. On the eve of the initial public offering, General Motors yanked $10,000,000 in ads from Facebook, stating they did not work, having no consumer impact.

"The Social Network" movie

The most valuable companies in America are Apple, Wal-Mart and McDonalds. Facebook has entertained many, but for overall, sustainable value, the Judiciary Report is of the belief, social networking can be fickle and other companies with a more solid business plan and durable products, have a better chance for long term sustainability.

After all, look what happened to MySpace. One minute it was the biggest thing in social networking, the next people stopped using it and Rupert Murdoch was forced to sell it for next to nothing, compared to what he paid for it a few years prior.

STORY SOURCE

GM to drop Facebook ads due to low consumer impact

Facebook off to faltering public start