Friend Finder Network (FFN) opened at $10 a share last week and quickly fell over 20% in the first day of trading and has been dropping from $7.50 a share to currently around $6.60 a share as it continues to drop...
wont be long, it will be either delisted or a penny stock.
Quote:
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The company, which had outstanding debt of $542.5 million as of April 15, had accumulated net losses of $210 million in the five years through 2010, the prospectus showed. Net revenue for the year ended Dec. 31 was $346 million, while the net loss was $43.2 million, according to the filing.
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http://www.bloomberg.com/news/2011-0...r-tumbles.html
They had a NET LOSS of 43.2 million for 2010 and had a NET LOSS of 210 MILLION from 2005 - 2010. That doesn't count their 542 MILLION of outstanding debt, that is how much they lost each year from their expenses being a lot more than their revenue. And yet people really want to buy stock in this company, the only way its going is down and fast. That's one grave I'll be happy to piss on when it finally dies