Update (4:35 p.m.): Updated with Monday market close information.
NEW YORK (TheStreet) -- Facebook (FB) fell 4.67% to $64.10, down $3.14 from its previous close of $67.24, on Monday as the tech sector sagged to start the week. More than 85 million shares changed hands, well above the average volume of 58,166,500.
Netflix was one of the hardest hit stocks, as shares of the streaming video service declined more than 8% in morning trading. The drop likely stemmed from reports that Apple (AAPL) has been discussing a deal with Comcast (CMCSA) for a streaming TV service.
TheStreet Ratings team rates FACEBOOK INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."