I AM SELLING FACEBOOK (FB) STOCK
Two Mondays ago, I wrote a blog post about purchasing facebook stock.
That day CNBC ran a headline stating facebook would disappear in 5 to 8 years, after the stock had sold off 40% from its post IPO highs.
I have always loved trading sentiment … while admittedly a highly speculative move, sentiment seemed to be negative enough both in the press and anecdotally among friends in the investing community that I deemed it to be worth a shot from the long side.
FB has rallied 18% since the June 4 close – as I write it just touched $32. Ringing the register.
That was the pop I was looking for.