Another day, another low for FB Shares

Facebook

Facebook (FB) continues to un-impress Wall Street and down it goes.

Facebook lost another $1 today and may close under $18.  FB shares got down to $18.08 on heavy volume.  Facebook shares have taken a 50% haircut since the IPO.  

Today's decline in FB is thanks to the analysts at Bank of America (BAC) and Bank of Montreal.  Both banks reduced their price targets on Facebook shares by 34% and 40% respectively.  Next stop, nobody knows but its not looking good for FB longs for the moment.

 

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