Facebook stock price hits new low
August 31, 2012, 5:10 P.M. New York local time — What a month for Facebook, and the latest is a bit of a bad news.
As reported by CNN today, Facebook’s stock price hits new all time low today after the Bank of America-Merrill Lynch analysts reportedly lowered the social networking giant’s price target with a sprinkle of warnings for investors.
Facebook (FB) stock price, according to Google Finance, fell by more than 5 per cent on Friday to a new low of $18.19, lower than the previous “low” after the company announced millions of faux users and accounts.
According to analysts, the biggest challenge of Facebook is to generate revenue from mobile, its emerging market. Apparently, more Facebook users are accessing the site using mobile devices like Android and iPhone devices, and it is safe to say that majority of mobile phone users are running Android.
Facebook recently introduced an improved iPhone and iPad Facebook app, but none for the most popular mobile platform.
Facebook’s biggest rival, Google, is still better mainly because its ad sales business powered by search and mobile is stronger than other ad networks.