Facebook Slide Continues Even As US Market Closed
The market may be closed but that does not mean long, well, short-suffering FadeBoon longs get a respite: courtesy of FB's German tracking stock, it appears that the stock traded down another 1.7% during today's trading session. This shift (adjusted for the EURUSD) implies a 2.7% drop from Friday's USD day-session close and extends the after-hours rout that occurred. And in even worse news for FB bulls, rumor has it Europe may open tomorrow again.
The EUR24.935 close today (-1.7% in Germany) implies around USD31.05. FB closed at USD31.91 on Friday (and slipped after-hours to USD31.34) inferring that Germany's equity traders see FB trading down 2.7% from Friday's US day-session (and still down from the after-hours close)...