FriendFinder Networks Almost 50% Off It’s IPO Price In Less Than A Week
2011 May 17
Shares of FriendFinder Network, Inc, fell more than 20% today in trading and continued its slide in after hours trading.
Shares of the company that own Penthouse, AdultFriendFinder.com and FacebookofSex.com closed down another $1.45 or over 20% to close at $5.75 a share.
Shares traded as low as $5.35
The company just went public a week ago on May 11th at $10.
I’m not a huge stock market watcher but I would say its pretty rare for a company to lose almost 50% market value in its first week of trading off the IPO price.
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They drop because “they” have no value and cannot be eaten by 99% of the world hungry population.
Commodities that people can use-those tangible stuffs that can feed their hungers are more important than SEX.