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Facebook Shares Slide
By the close of business on Monday, Facebook shares were down to $34.03 from the initial price of $38. The market value of the firm down $10 billion as a result. So Facebook shares fell a further 11% on the second day of trading and questions are now being asked as to whether the stock was over valued and over hyped, with the bankers and serial stock investors now looking for someone to blame.
What does this mean for social recruiting? In microeconomics terms not much. Those who can resource social talent pools and have a need to will continue to do so, whilst those who have no need will not. In the macroeconomics the situation is far worse, it means bankers and investment vehicles have learned nothing of the practices that brought about a global depression due to their cavalier approach to money, where to spend it and where to lend it.
With these kind of goons still allowed to ply their trade, shifting around money in the trillions they make and lose in an instant. A double dip recession looks like a positive outcome, considering these bankers trading style seems to suggest they are aiming for something far worse.
Meanwhile Facebook will continue on its path and most likely connect the world as Mark wants and in a few days, weeks, months they will release a market approved set of results, new tools, news services, new income stream announcements and then the shares will rally to $76, then drop to $64 and so it will go on, and on, and on....
Author: Darren Revell