Would there be a better time for Microsoft to launch their new social network, So.cl, other than on the heels of Facebook IPO? This week hasn’t been that perfect for Microsoft, as news of Google Chrome overtaking MS Internet Explorer in the Top 5 Web Browsers pushed MSFT stock price down closer to the 200-day moving average. The quiet launch of Microsoft’s potential Facebook competitor may have been just enough for investors to trust once again the tech stock.
Facebook drop meanwhile continued yesterday and session ended when FB stock was trading for $31 per share for the second time during the day. The selloff resumed right from the beginning of the trading session and Facebook shares plunged to their lowest value in the first 10 minutes! A gap fill followed up to $33.50 (a previous support level) and sellers took control of the market for one more day. Social network’s shares have lost about 25% since Facebook initial public offering by major underwriter Morgan Stanley. MS stock seems more promising than Facebook by the way, despite the negative talks regarding the IPO.
Facebook investors have not only lost a lot of money trading the stock but they won’t be getting any Facebook paper stock certificates either according to CNNMoney! A Facebook paper stock certificate may not cost that much nowadays, but collectors do pay a handful of money for old and rare stock certificates, like the Standard Oil Company certificate sell for $127,000! If you are interested in antique stock and bond certificates, check out Collectors Weekly.