Netflix (NFLX) announced Wednesday that users can now share their movie and TV show viewing history on Facebook. That news helped boost shares of Netflix, already the best-performing stock in the S&P 500 this year, by 6%.
But Facebook? Not so much.
Facebook's (FB) stock fell more than 2%, continuing a slide since the social network reported fourth-quarter earnings back in January. Shares are now down 10% since that report.
It's an understatement to say that this is not what the company probably had in mind following its ballyhooed initial public offering last year. Making matters worse, the Facebook dip comes at a time when the overall market is surging and tech stocks not named Apple (AAPL) are on fire.
Traders on StockTwits have mixed opinions as to whether investors should, to borrow the title of Facebook COO Sheryl Sandberg's new book, lean in to the stock.
Well, it doesn't look like the stock is going to close below $27 today unless there is a big sell-off in the late afternoon. It was around $27.21 as of midday. But yes, it is amazing that Facebook, much like Apple, can't seem to catch a break with investors these days.
But not everyone is bearish on Facebook.
That remains to be seen. It all boils down to whether or not Facebook can successfully make more money off advertising ... and not tick off users in the process.
Privacy will also remain a key concern. Some people may like the fact that they can easily let their friends know what they're watching on Netflix, others are growing increasingly wary of a world where everyone can easily find out the most minute, mundane details about you.
And that's exactly why my barely used Facebook page is as barren as the Sahara Desert.
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