Happy Anniversary to Facebook (FB), which went public a year ago today.
Or is it?
Did you buy at the IPO bloated price of $38? Were you then thrilled when the stock shot up to $45?
Were you in despair when it collapsed? Were you reassured when it began to show signs of life afterward?
Are you plain confused now?
You should be. It closed at $26.25 on Friday. That’s about midway between the IPO price and the 52-week low. Who knows where it goes from here.
Unless you happened to be some sort of an insider, chances are Facebook’s stock offering didn’t make you rich. But there’s always hope.
The stock has been creeping up as CEO Mark Zuckerberg makes a persuasive case to Wall Street — first, by removing his trademark hoodie and second by showing stronger leadership qualities.
Facebook now seems more like a cautionary tale than anything else, a reminder of the boom and bust cycle of tech stocks in general and of the failed promise of a great idea.
MEDIA MATRIX QUESTION OF THE DAY: Where will Facebook’s stock price be on Dec. 31, 2013?
Feel free to leave your answer here.