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Facebook, Inc. (FB) Message Board

  • wenwenlin2002 wenwenlin2002 Feb 5, 2013 1:18 AM Flag

    1.5B shares overhang

    Last time FB traded below $28 was on Jan. 4, 2013 and about 1.5B shares changed hands since then. Too much overhang to overcome without news. Ppl who bought near Nov. low around $18 to $20 still have 40% more gains and insiders will start to sell soon. Lots of selling pressure near term and market wants to correct. Not too bullish on FB now as it will test its 200 day ma as it broke below 50 day ma today with volume. Any uptick will be sold this week as billions of shares waiting to recover their loss from disappointing ER and cc. gl and hope FB holds its 200 day ma for a bounce to trade.

    Sentiment: Sell

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