Facebook fiasco

 Many of the people who initially bought the Facebook stock at $38. a share are wondering what happened.   The price of the stock is dropping dramatically.   Why be surprised?  The multiple (price earning ratio)   was  100 to 1.   Contrast the 100 to1 ratio to the stable, profitable  companies , 15 to 1 multiples.    Those who bought Facebook apparently are betting on the future because the present has been a fiasco.

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