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by Rod D. Martin
June 11, 2026
Fourteen years ago, almost to the week, Facebook stumbled out of the gate.
It debuted at $38. It briefly touched $45. Then it fell, and the press behaved exactly as the press always behaves when an extraordinary company fails to provide ordinary investors with an instant casino payout.
They called it overvalued. They mocked Mark Zuckerberg (and Peter Thiel). They said Facebook would never monetize. They treated the IPO as a failure because the people who actually built the company did not leave half their money on the table for CNBC’s favored traders.
I called Facebook a Strong Buy. If you listened, you made a LOT of money.
Not because I knew the bottom. I didn’t. I said at the time it might get worse before it got better. It did. I said the noise might continue for months. It did.
