Shares initially suffered Monday carrying out a weekend report in Barron's, the weekly newspaper published from the Wall Street Journal, claiming shares with the No. 1 social networking stock are overvalued and can fall to $15 a share.
Later in the day, there is discussion on online news websites, alleging private messages were showing up online on users' public 'wall' internet pages. At one point, shares were trading 10% lower of waking time.
"A small number of users raised concerns after what they mistakenly believed to be private messages appeared on their Timeline," a Facebook representative said in an emailed statement. "Our engineers investigated these reports and found that the messages were older wall posts that had always been visible on the users' profile pages. Facebook is satisfied that there has been no breach of user privacy," the emailed statement said.
The stock was supposed to obtain a boost Monday, after being put into the obscure Nasdaq Q-50 directory. The Q-50 index is a list of the stocks likely to be put into the widely watched Nasdaq 100 directory, a collection of the 100 most effective non-financial stocks trading on the particular Nasdaq.
However, bears on the stock keep say that Facebook is truly worth $15 a share as well as less. The stock got a lift last week on the coattails regarding positive comment from CEO Mark Zuckerberg earlier inside month.
Shares, though, have been an emergency for investors who piled into the initial public offering that debuted May 18. Shares are now in relation to 45% below the IPO price of $38 a share.
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