As you can see below, FB was finally starting to pull out of its downward trend at the beginning of Sept, increasing a respectable 28% before retracing its steps today.
With today's drop, it falls below its 50 DMA. However, since its a big gap down, expect it to not be as meaningful as a longer term drop. As well, there's considerable price support in the $18-19 range so it should take a while for it to drop below its recent lows.
What was the catalyst for today's drop? Take a look at Barron's front cover page:
That says it all.
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