After its successful float on Friday, social media giant Facebook’s stock is now 18% down on the IPO price and there are claims some investors were aware of revised analyst expectations shortly before shares went on sale.
Facebook’s share price isn’t being helped by large advertisers, most notably General Motors, publicly expressing their dissatisfaction.
In SmartCompany‘s survey on business tech use, one statistic that stood out was that less than 30% of businesses were happy with their returns on social media.
Facebook can’t even win in the courts with a Californian magistrate throwing out the social media platform’s trademark case against a Norwegian pornography site.
It’s been clear for some time that the tech industry has been in an investment bubble and social media services have been at the centre of that hype… Read more