FACEBOOK IS THE NEXT YAHOO AND THAT MAKES IT VERY BULLISH
In the chart below you will see a comparison between the YHOO IPO in its first 53 days and the FB IPO 53 days in. If the similarities in price movement weren't enough, I present you with this article from the day of the IPO that tells of YHOO hitting a high of 43 on that day before closing at 33. FB, as we know, hit a high of 45 on the day of its ipo. Here is the article from 1996 http://news.cnet.com/2100-1033-209413.html
Also notice in the article how comparisons are made to other struggling IPOs in the internet space, such as Lycos and Excite. Very similar to the general dismal feeling surrounding social media stocks. Just as the internet was several years old then, social media today is an industry that is only several years old. The similarities go on and on.
I wish I had access to article from a few months after the YHOO IPO showing how dismal the sentiment had become towards it. Unfortunately, I haven't been able to locate them. The sentiment is surely similar to what we are experiencing with FB currently.
Here is the chart showing the price comparison:
click chart to enlarge
YHOO/FB Correlation
