As Expected Facebook Heading South

Facebook is now below $34.00.  It is finding its way to its true price and all of the other speculation is just that.  As I have been saying all along, the stock, currently, is overvalued.  It’s just that simple.  As the price drops, you may see an influx of cash which will drive the stock back up, but don’t expect it to stay there short-term.  Apparently the underwriters are out of cash, (that’s a joke) or simply realize they can’t hold the price up artificially, indefinitely.  It should be a very interesting ride for FB throughout the trading session.  If the NYC weather is any indication of the stock price at the closing bell, it could be a long day.

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