admitting failure is the first step to recovery! Now you may recoupe your losses but it's gonna depends on where you bought at the highest level. Many people even bought at the 7.70 level and held hoping for Facebook pop. It could take a year or more to get back to that level!
Also IMO earnings should have been a clue! Everyone says facebook of china but user growth in 3 months was only 7 million in China. For your sake I hope user growth gets better but it's acting more like the Myspace of China! GLTA but short term stay away from this!!