Makes perfect sense. FB is a story stock, super volatile and subject to emotion antipathy rumors investor indifference and overblown then overbashed expectations.
Dow is flying high from record levels of corporate profits, productivity and 2 Trillion in cash. FB has cash, won't use it, and is completely disinterested earnings, profit, investors, taxation, headcount and health insurance. They're busy now building another HQ site and more ad platforms.
FB is not a mature stock and doesn't move with Graham numbers, P/E or BV. It's still a story stock with bias and lousy guidance and no interest in short term investors which distorts the market value except when earnings, events, speculator buying rolls in.
that's an interesting one. I thought it might have something to do with the options area and activity there.... with hedges/collars some big boys might have set up and the net effect to all that is this behavior... not thought out, haha. I do like your take.