Facebook (FB) Remains in the Slaughterhouse, Valuation Sinks $24 Billion
Get Alerts FB Hot Sheet
Join SI Premium – FREE
Facebook's (Nasdaq: FB) valuation continues to get adjusted lower - at what seems to be light speed.
After pricing its IPO at $38 and opening at $42.05, it has been almost straight downhill since. Shares just broke below the $30 level and it now looks like it wants to test the $28 level, which interestingly is the low-end of the original range the underwriters were expecting.
The social media juggernaut's valuation, which started at $104 billion, is now at about $80 billion.
Investors are expecting the company to earning $0.55 per share this year, which would put the forward P/E at about 54x.
Shares of FB last traded at $29.42, down 7.8 percent on the session.
After pricing its IPO at $38 and opening at $42.05, it has been almost straight downhill since. Shares just broke below the $30 level and it now looks like it wants to test the $28 level, which interestingly is the low-end of the original range the underwriters were expecting.
The social media juggernaut's valuation, which started at $104 billion, is now at about $80 billion.
Investors are expecting the company to earning $0.55 per share this year, which would put the forward P/E at about 54x.
Shares of FB last traded at $29.42, down 7.8 percent on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Tesla (TSLA) soars on Q1 print
- ContextLogic (WISH) Urges Stockholders to Vote FOR the Value Maximizing Transaction with Qoo10 TODAY
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!