NEW YORK ( TheStreet) -- On many levels, I'm starting to feel sorry for social media giant Facebook (FB). Not the "Aw, you poor thing..." type of sorry that my mom use to pity me with. I mean, how dare I try to empathize with a profitable corporation that is worth over $40 billion in an environment where many consumers are still trying to make ends meet managing their household budgets? I get that.
However, in the case of Facebook, it is clear that the company is now suffering from two things. First, Facebook is grossly misunderstood -- remarkably, by both its supporters and its critics.
Secondly, the company is being punished for committing one of the most heinous crimes on Wall Street -- not meeting expectations. But that's not necessarily its fault either. It's like being mad at nature because it started raining as you placed your golf clubs in your car. That's what weather forecasts are for.
I don't want to come across as a Facebook apologist. I will concede that I have come to the company's defense quite a few times, but it's because I think Facebook is now being loathed for reasons that make very little sense and grossly unfair. Granted the stock has not performed as well as everyone expected, however the idea that somehow it is because its CEO, Mark Zuckerberg is too young and wears a hoodie is beyond idiotic.Ask yourself this, was he not too young prior to the IPO when underwriters valued the company at over $100 billion and analysts were wondering if it is yet too low? Were hoodies not fashionable when, on the company's first day of trading, the stock shot up to $45 after opening at $38? The negativity directed at Facebook is the typical finger-pointing; everyone wants to blame everyone else except themselves.
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