Facebook Stock Falls Again, Still Not Far Enough

It will be a good buy at $20, says one analyst
By John Johnson,  Newser Staff
Posted Jun 5, 2012 4:33 PM CDT
People walk past a sign welcoming Facebook at the NASDAQ stock exchange on Times Square on May 18.   (Getty Images)

(Newser) – Facebook's stock keeps setting milestones of the wrong kind, today closing below $26 at $25.87, notes CNNMoney. Which means the stock is now down 32% since the May 18 IPO. Time to buy? Not even close, one tech-sector expert tells MarketWatch. "Facebook at $20 is worth a look," a co-manager of the Allianz RCM Technology Fund says.

“Facebook is something we want long term, but when you bring out the stock at $100 billion [market valuation] and that’s our price target in three or four years if they execute well, what is your upside?” he asks. “If they execute well, they can go back to $100 billion in three or four years.” At TheStreet, Jim Cramer says small investors again got the shaft and calls the Facebook IPO the "disgrace of a stock lifetime." Click for his column.

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