Tomorrow is the one-year anniversary for the Facebook (FB) IPO … though many investors might not want to remember it.
Shares are down about 31% in that time, compared to a 19% gain for the Dow Jones Industrial Average and a 22% jump in the S&P 500. That’s right — you would’ve done better plunking your money into humdrum companies like General Electric (GE) or Clorox (CLX).
That isn’t to say Facebook has been a completely lost cause. The company has gotten back on track to some extent, improving its revenues last quarter by 36% thanks to an improved focus on monetizing mobile, which went from nothing to 30% of revenues during the past 12 months. Read