Facebook fail?

Even using the most optimistic forecasts, Facebook will have to grow earnings spectacularly to justify its current share price.

PORTFOLIO POINT: Facebook’s earnings will need to grow spectacularly in coming years to justify its current share price.

Facebook is now listed and thanks to the underwriters for their opening day support, particularly right on the close in massive volume, the shares appear to reflect a market that agrees with the $US104 billion valuation ascribed to it at the float.


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