Sign up with your email address to be the first to know about new products, VIP offers, blog features & more.

Deja Vu

THE social media stock, which everyone has been atwitter about, became a public company last month. A lucky few were able to get it at its initial public offering price. Opening price for the rest of us was about 70% higher. Since then it has risen another 64%. There is no Price/Earnings ratio because there are no earnings. Even the Price/SALES ratio is obscene. The market capitalization of this company now makes it bigger than most of the companies in the S&P 500. We have seen this sort of price action before, 15 years ago during the Internet bubble. *

“History doesn’t repeat itself, but it does rhyme.” – Mark Twain

*Since I wrote this 2 days ago, the stock is off almost 20%.