My average is now $28.65 so I don't need to wait for the IPO price to start making money.
$85 in 12 months. Thats a triple baby and I have 8,000 shares now.
Averaging down is one of the most destructive and self-deceptive rationalization that you can ever do while investing. If something is performing VERY POORLY, why in the hell would you want to burden yourself with more?
FB has bad karma now and it will not get any better until all the stock is unlocked and floated. I see $10 ps by the end of this year. The huge stock float will enable easy shorting so traders will continue to have their way with this stock.
Sooner or later, FB will trade on the fundamentals. Once an identifiable and steady income stream is identified (such as GOOG), FB will take off. It may take 5 years for you to achieve break even. Just too much float. Furthermore, the IPO should never have been higher than $20 ps.
At least you know you're a bagholder.