17Palms Capital – FACEBOOK DOWNGRADED TO [SELL NOW] – target price: $70
The once mighty Facebook has seen its stock plummet from a high of 209.9 to currently 132. The question is – will Facebook continue to drop, or will it rebound?
We believe that it will continue to drop, for several reasons. Firstly, the age of Facebook has passed. It was the “IT” thing when it first started, but today there are too many other options available and it’s simply not “cool” among the younger generations. I don’t see it making a comeback.
Secondly, the product of Facebook is poor and deficient. Even the Russian competitor “VKontakte” or “VK” has a better product. VK is faster, easier to use and more intuitive. Facebook has become too bloated, too slow. It has too many things going on at the same time. It’s very slow to load and difficult to use. It has strayed from its core purpose and we don’t see it coming back. STRONG SELL.
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