FB stock tumbled 1.41% in early trade Monday, after Citron’s Andrew Left said he is short shares of the social networking giant.
“Facebook (FB) is losing an extensive amount of relevancy,” Left said in a CNBC phone interview Monday morning. “I am short Facebook…I’m not saying Facebook is a ‘bad company’ [it] just will not be a $330 billion company in a year.”
Facebook shares recently traded at $114.87, a loss of $1.82 over Friday’s closing price. The name has a current market capitalization of $329.7 billion.
Shares have traded today between $114.60 and $115.48 with the price of the stock fluctuating between $72.00 to $121.08 over the last 52 weeks. FB traded as high as $121.08 on May 11, 2016.
Facebook Inc. Cl A shares are currently changing hands at 70.27x this year’s forecasted earnings, compared to the industry’s 0.54x earnings multiple. Ticker has a t-12 price/sales ratio of 16.88. EPS for the same period registers at $1.64.
Shares are up 42.51% year-over-year and 11.43% year-to-date.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!