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Thursday, December 19, 2013

Facebook (FB) Stock Analysis 12/19/13 December 19, 2013

Facebook (FB) Stock Analysis 12/19/13 December 19, 2013 -

 
 

Facebook (FB) stock is dropping hard as the company and insiders plan to sell a total of 70 million shares.  Shares of Facebook (FB) are currently trading just below $53, down 5% in pre market.

This is a little strange to me because the company has plenty of cash, I'm not sure why they feel the need to dilute shareholders.  FB will still be added into the S&P 500 as of the close on December 20, 2013.

Facebook (FB) will have strong support around $52 going forward.  After $52, look for major support located in the $49's.   With earnings coming up soon, I would be avoiding this stock and buying weakness in YELP.

Also see - Top Stocks 2014 - Top Stock Gainers 2013




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