Sorry…Facebook (Nasdaq: FB) is Only Worth $7.50 a Share

by Keith Fitz-Gerald.

The technorati took me to task. So did Wall Street. They were agitated by an article I wrote in May explaining why the world’s most hotly anticipated IPO, Facebook (Nasdaq:FB), was worth a mere $7.50 a share at best. “Out of touch,” one of the critics said. A “luddite” charged another. “Doesn’t grasp the significance of so many users,” one Wall Street insider opined–who happened not coincidentally to work for one of Facebook’s investment bankers. Since then the social media da…

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