It's the same company it was 3 months ago. The 10 Billion is in Facebook's pocket. They could care less about what the stock is trading at. They got theirs.
Except for their underwater workforce and the general lackluster impression now that everyone has seen the busted IPO.
Along with their earnings, revenue and user base no longer growing quickly there's little reason why the stock still supports such a high P/E. Definite downward momentum.
I would argue those are morale & enthusiasm issues. While important, it's relatively normal post IPO (they're not going to be THE drive for talent in SV anymore without the promise of IPO $$$).
Sure, enthusiasm may be low, but heir enthusiasm doesn't pay bills or keep the lights on. Financially it was a good move for FB. Whether or not it was a good long-term move is still tob be seen.
