By late afternoon, Facebook shares were off by 3.5%. [...] Credit Suisse cut its price target on the stock to $24 from $34, keeping its rating at neutral.
So, let me see if I get this straight...
Yesterday, Facebook was trading at $20.23 and CS's price target was $34 (i.e., they expected 68% appreciation).
Today, Facebook is trading at $19.45 (3% lower) and CS's price target is $24 (i.e., they expect 23% appreciation).
There are so many logical fallacies contained within those two sentences that I don't even know where to start. Somebody pleaese remind me how these clowns have jobs, let alone the high-paid influential jobs they have.
Wednesday, October 10, 2012
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