There may be huge anticipation for a Facebook offering, but social network FriendFinder (FFN) is not getting any love from the market. Based on Wednesday's closing price of $5.14, the stock is down 49% since it went public at $10.00 on May 10.
The company entered the market burdened with high interest expenses -- running to 26% of revenue -- and it's only been able to generate 5% growth on the top line, even though it's one of the most heavily visited social networking websites in the world.
FriendFinder's reputation may be a part of the problem as the company is the publisher of Penthouse magazine, but it's also home to Christian and Jewish dating sites as well.
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