After witnessing the Facebook fallout the past week, Citron has to give complete kudos to Scott Galloway, professor at NYU, TED Speaker, and Chairman of Gartner owned L2. In a casual article in December when discussing the trends for 2018 he penned:
Facebook stock peaks.“The Zuck becomes the unwitting poster child for the movement against big tech as a series of half measures in response the Russian interference…”.
Boy was he right! And okay fine, that ship has sailed. But what about his other critical prediction that has yet to happen.
When Galloway says “crash”, he doesn’t mean return to $45/share (prices just one year ago), but rather down to the price set by the professors who have done more detailed work on Wayfair than the entire sell side combined. Their price target- $10!