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Tweet this: Facebook shares have been pushed down so far, so fast, that they now cost less than J.C. Penney shares. J.C. Penney shares right now are around $22.55, Facebook shares are around $21.75.
Now we know what you’re going to say: look at the valuations, dummy! (There, we saved you the trouble.) J.C. Penney’s PE (forward, one-year) is about 18. Facebook’s is 45 (and it’s trailing PE is 81). Plus, J.C. Penney has about 219 million shares outstanding; Facebook has 2.1 billion.
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This is the WSJ of Rupert Murdoch. After NewsCorp bought the WSJ (and before I knew he had), I noticed that the blogs and opinion sections were suddenly stuffed with sensationalistic nonsense (including gems like this hidden in otherwise okay articles).
> J.C. Penney shares right now are around $22.55, Facebook shares are around $21.75
I find it ok when some online commenter says it [he might be a fifth grader]. But I find it surprising that a leading financial newspaper publishes such statement.
http://blogs.wsj.com/marketbeat/2012/07/31/tweet-this-j-c-pe...
" Tweet this: Facebook shares have been pushed down so far, so fast, that they now cost less than J.C. Penney shares. J.C. Penney shares right now are around $22.55, Facebook shares are around $21.75.
Now we know what you’re going to say: look at the valuations, dummy! (There, we saved you the trouble.) J.C. Penney’s PE (forward, one-year) is about 18. Facebook’s is 45 (and it’s trailing PE is 81). Plus, J.C. Penney has about 219 million shares outstanding; Facebook has 2.1 billion. "