Facebook ( NASDAQ: FB ) keep tumbling !

The much awaited IPO of Facebook Inc, created a lot of hype on a Wall Street and might get a premium valuation than its actual valuation. Stock has started a loosing streak since day one of its trading session. After opening above $42 on the first day, it has started a steep sell off and continued to be down on the third trading session and loose more than 15 % of its value. How long will the loosing streak be extended, nobody knows, but the valuation was certainly high that is for sure. We have recommended a Sell rating on Facebook before the IPO when it was just priced $28, due to lack of convincing fundamentals of the company.

Company had offered more shares than previously announced and also revised offering price too. At this levels, we recommended a Sell on Facebook. Its a one of the notable flop listing on Nasdaq. It may not be good for investment purpose as well.
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