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Facebook: Rock Bottom

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Facebook continues to face a very negative news flow.
Users deleting Facebook appears to have already peaked.
The EPS trend has started heading back up.
An additional $9 billion stock buyback authorization helps shift investor sentiment back positive.
When a stock quits going down on negative news, the stock has probably hit the lows. Facebook (FB) finds itself in that position with an ongoing negative news flow and a stock that has rallied off the November 19 low and held in the face of a another market selloff. My investment thesis was negative on the stock when $150 didn't hold, but the thesis is shifting back bullish here below $140.
Read the full article at Seeking Alpha. 

12/14 Update 3:25pm est

Facebook reported a photo-sharing bug today and the stock is up at this point. Another good sign the stock has hit rock bottom.
  • The vulnerability covered just under two weeks, from Sept. 13 to Sept. 25, and it has been fixed, Facebook says.
  • The bug affected up to 6.8M users and 1,500 applications built by 876 developers, it says in a blog entry.

Disclosure: No position. Please review the disclaimer page for more details. 

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