they were overvalued to begin with, not a big loss for me
"for me" is important here. While I fully agree that FB, and (especially) Zynga were both overvalued, the near-constant deterioration of their stock price is very visible - both to Wall St and investors. Perception is king, and it's not just "ours" which matters. What the public sees is the tri-fecta failure of 3 super-hyped tech IPOs (Groupon, Zynga, Facebook).
edited to add : It's also very worth noting that the perception of FB being massively overvalued may very well have been highly confined to "insiders", or those close to tech.
When I speak with my non-tech friends, most of whom are highly educated (law, medicine, etc.), the general reaction to FB's decline is one of surprise. For instance, I often hear that "everyone thought the price would go up!".
Yeah Facebook was the last tech stock that was able to sucker in the "muppets". That's why Morgan Stanley & co jacked the price up as much as possible before running away like bandits
"for me" is important here. While I fully agree that FB, and (especially) Zynga were both overvalued, the near-constant deterioration of their stock price is very visible - both to Wall St and investors. Perception is king, and it's not just "ours" which matters. What the public sees is the tri-fecta failure of 3 super-hyped tech IPOs (Groupon, Zynga, Facebook).
edited to add : It's also very worth noting that the perception of FB being massively overvalued may very well have been highly confined to "insiders", or those close to tech.
When I speak with my non-tech friends, most of whom are highly educated (law, medicine, etc.), the general reaction to FB's decline is one of surprise. For instance, I often hear that "everyone thought the price would go up!".