WALL STREET: Mediatech Capital Partners’ Porter Bibb Critical Of Facebook
Mediatech Capital Partners Managing Partner Porter Bibb was critical of Facebook in an appearance on CNBC’s “Fast Money” Wednesday, prior to the social network’s second-quarter earnings call.
Mediatech Capital Partners Managing Partner Porter Bibb was critical of Facebook in an appearance on CNBC’s “Fast Money” Wednesday, prior to the social network’s second-quarter earnings call.
Bibb said on the CNBC show that Facebook would need “some real serious management” to boost its stock price, adding:
I don’t think it’s going to go anywhere near-term. I think maybe it’ll get back up to $28 or $30 in a year because they are reaching into developing markets with a feature-phone product that’s simplified Facebook.
They’re going to find big markets in India and Brazil and Indonesia, but they’re not in China to any extent.
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