NEW YORK (TheStreet) -- Shares of Facebook Inc. (FB) are down slightly in pre-market trade after the social network was briefly unavailable this morning in several countries in Europe and the U.S., with an outage affecting desktop and mobile sites, CNBC reports.
About 9 a.m. London time, the site forwarded to an error message telling users the unspecified problem would be fixed as soon as possible. After 30 minutes, normal service had been resumed with the website once again allowing users to log in. Reports from news wires indicated that users from all over the world had been hit by the outage, CNBC said..
A company representative told CNBC that Facebook had "resolved the issue quickly, and we are now back to 100 percent."
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 stock itself is trading at a premium valuation."