“Facebook shares “are slated to open on Friday at their lowest level yet and will likely end up being valued about 1/3rd less than they were at IPO time. It’s a stunning fall that will have massive consequences from Silicon Valley to Wall Street.”
“The disappointment, of course, is not just contained to Facebook. Many of the hottest tech companies touting social networking attributes and online business models pegged to a new and more mature Internet economy have been stock market disasters.”
The story then goes on to chat about Zynga, which is currently trading just over $3 and Groupon.
The story concludes:
“Facebook, Zynga and Groupon were priced for perfection, but they have turned out to be anything but perfect.”
You can read the whole story here