If you want to know how Facebook Inc. (FB) and other social media services are changing or dominating the world, this image that is the cover of the August edition of Funny Times pretty much sums it all up.
Some of us, at least the me part of us and others, find it somewhat tiring after the fifth twenty-something walking down the sidewalk almost runs you over. They are not blind, but they cannot take their nose out the screens of their smartphones and on half of the screens it seems be Facebook or other social media distraction. The urge to see what hamburger their friends are having for lunch or how many beer bottles are on a table from a party the night before is just too tempting. At least Mark Zuckerberg appreciates it.
Thursday's closing price of $34.36 for Facebook shares took the stock price to a closing high not seen since shortly after its poorly handled initial public offering back in mid-2012. The only real surprise on Friday was that there was not any significant profit taking after such a large gain.
Funny Times is a monthly humor publication that is mailed out or subscribed to online, and this image of the August cover was published with their permission. The cover of the August issue of Funny Times sums up the world created by Mark Zuckerberg and a few others.
Facebook shares closed at $34.36 on Thursday after jumping nearly 30% after the earnings. An independent research firm called Argus downgraded Facebook's stock to Hold from Buy on Friday, based upon the stock hitting the upper-end of its valuation band. This comes after numerous analysts chased their price targets higher on Thursday after earnings blew the numbers out of the park on Wednesday.