Six Months Later
Tim Knight | Oct 12, 2012 01:26AM ET
The gist of the post was quite similar to one I did yesterday, which was that the cultural saturation of All Things Tech (including, regretably, a new Bravo show about the Silicon Valley) indicated an important top in technology stocks. In the case of the strongest of the strong, Apple, my declaration in April (tinted below), was a little premature, although we've definitely been slipping hard of late and we presently aren't any higher than we were six months ago:
On the other hand, with lower-quality stocks, such as Zynga (shown below), my timing was quite correct (again, it is tinted):
The real focus of the piece, of course, was Facebook. When I wrote my post six months ago, the excitement about the Facebook IPO was palpable. Most people seemed to agree that (a) the stock would be the next Google, and should be bought instantly at its public offering; (b) its success would usher in a whole slew of other smaller tech IPOs, particularly those in the social space.
As the heavenly-gorgeous Ms. Sandberg suggests below, this isn't quite how things panned out:
With the exception of Apple's strength, I think my post was pretty much correct. Facebook's stock has become an embarassment, and I would daresay that lower-echelon offers like Zynga and Pandora won't even be listed anymore within the next year or two.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.