Facebook Close To Undercutting Prior Low In Base
With a 1.2% drop on the stock market Monday, Facebook’s (FB) stock is coming dangerously close to undercutting the prior low of its current flat base. That could unravel its base-building effort. Last week, Facebook’s earnings topped expectations on continued growth in mobile ads and users. But the company said that its expenses would keep soaring. Professional network LinkedIn (LNKD) is also building a flat base, but is trading near the middle of