Been in short puts on this stock for the past 4 months or so. Still short until 22 Dec but really running out of patience. Everyday there is an expectation of lower prices and it never seems to happen. I am beginning to think that Facebook has become a national icon that will never be allowed to sink to a penny stock. Who ever heard of a stock price increasing with a possible dilution of 800 million shares.
We may have to think again about this pig of the decade. The whole history of this stock reeks of manipulation by the big money. Option trader called it on the money on August 10 prior to the lockup, This was an amazing call given the circumstances.
Just my opinion.
Its up on potential nothing else. Since they dont have the revenue to justify the stock movement. Big money is buying because they have 1 billion unpaying users. If they ever figure how to convert these free loaders to customers than it would be the time to buy the stock and make some serious money. For now its up on hot air potential. Just like the sub prime mortgages where. Buyer beware.