Breaking Finance News

Facebook Announcement a Mystery for Reporters

Facebook (NASDAQ: FB) is sending invitations to the company’s headquarters for an event taking place on Thursday. The Facebook Announcement only says that it will announce a new product.

“A small team has been working on a big idea. Join us for coffee and learn about a new product.” It’s true that the amount of people working to be the first to report Facebook news isn’t as high as that of Apple (NASDAQ: AAPL), but there’s no indication of the product might be. Some speculated something having to do with hashtags but that doesn’t seem likely, according to Business Insider. 

Whatever it is, there’s no doubt that Facebook needs some help. After its first annual shareholder meeting where angry investors asked why the most popular IPO of the 21st century is worth a fraction of its IPO price, the company is under pressure to show investors that Facebook isn’t going the way of MySpace.

New metrics indicate that Facebook is no longer the hangout of choice for school-age people and that has CEO Mark Zuckerberg concerned.

Whatever the product, which is likely to become more clear as the trading week begins, Facebook, like Apple, needs to announce something with a wow factor. The company has failed to impress investors that last couple of times media were invited to its headquarters.

Disclosure: At the time of this writing, Tim Parker was long Apple.

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