shorted in Pre-market? $12 is very low and is unlikely for two reasons. 1. all of the 770 shares are not going to be sold today. maybe 10% or 20% so a drop may happen. Important to note here Trading is suspended at a 10% loss. so $12 would likely be 3-4 days out if it drop consistently. I think this will bottom somewhere around $17
Too much bad news already baked in. I don't think we ever get below $20 again. Too much potential upside. And if folks really needed the cash, they would have sold by now.
Also, Zuck doesn't want to see any drop below $22 without putting up a fight most likely. All the talk of single digits and $12 is just professionaly antihype and bashers that are now realizing that the longs were probably right all along to some degree, and that FB is actually making some decent moves.
Do we get to $20.30? Maybe not. After Thanxgiving profit taking will likely not include folks who want to sell below $20, when there is a very good chance that $30 is in the offing after January results are out.
Shorts really should move on to LNKD at this point. If the stock was going to tank below $20, the odds are that it would have done so already. The shares have been unlocked for a week now.
The prior floor was $18. The new floor is $21. Next month $24. If FB beats in January 2013,which appears to be at least a 50/50 proposition right now, I think we all know where this stock is going.