Facebook shares closed at $38.23, barely above the $38 IPO cost; a real disappointment. When I decided to invest in Facebook, there was so much hype. Honestly, it was as if money was going to fall from the sky and all the investors were going to make tons of money. My plan was to go in and buy, then sell. Really, do I want a Facebook stock? A social media stock is just as volatile as your in-laws! However, I’m not going to sell out my stocks now. No sireee. Facebook and I are now in it for the long haul. We are now family, camping buddies, with all the blemishes, warts, and stinky socks, we are going to grow together like one big happy, dysfunctional at times, family.
Losing GM advertising isn’t the end of the world for Facebook, there are other companies out there. Just because the platform doesn’t work for GM doesn’t mean it doesn’t work for another company. Let’s not get a wedgie over this. Facebook will find advertisers.
Further, for those who sold shares, you’re going to regret selling out soon when the prices increase, and you’re forced to pay higher prices if you want back in. In a few years, Facebook is going to be a phenomenal stock to have in your portfolio. So, whatever horrible thing that happens, I’m not going to jump ship, even if the ship sinks. I’m going to survive, and even get ahead over time.
Facebook, you truly sucked on the first day, but I believe in you, or I wouldn’t have bought the stock to begin with. Now go charm the world.