Facebook Inc (NASDAQ:FB) announced that they had engineers looking into the proposed email issue. The social networking site recently began offering personal emails that ended with @Facebook.com. The idea here was if someone had your Facebook email, they could send you an email and it would show up under your messages tab.
Interestingly enough, CNET stumbled upon a blog post made by Adobe Systems Incorporated (NASDAQ:ADBE) employee, Rachel Luxemburg. Luxemberg recently found out that her Facebook email had been silently updated on contacts lists. One of Luxemburg’s co-workers found that her email had been changed to her Facebook email account only after sending to her work email and receiving wrong address notifications. However, she later realized that none of those emails that were sent to her Facebook email ever arrived at her messages tab.
This is the latest setback experienced by Facebook. Earlier this month, the social networking site attempted to introduce an app that would allow people to see who else is on Facebook around them. After that blunder, Facebook obviously turned their focus towards the new email feature. The only problem is that there is no guarantee that you will receive emails sent to you, in addition to the automatic updates to email lists.
Facebook continues to struggle with getting support from Wall Street. Although can you blame them? Facebook’s disastrous IPO was the beginning factor for Wall Street to move away from the Facebook party. There were simply too many shares offered at too high of a price. This is why we saw very limited trading from big Wall Street institutions and ultimately the little guy took it on the chin that day.
Facebook is an innovative site that continues to try and have unique apps and features that will attempt to draw more users. However, lately one must ask whether engineers have been testing out the apps and new features before it is offered to the public because this is the second new feature that has caught fire from users and Wall Street.
Facebook Inc (NASDAQ:FB) continues to trade under its IPO price of $38 but there is a catalyst coming up that could help the company break out of its slump, earnings. Facebook is scheduled to release their 2nd quarterly earnings report on July 26, 2012. Certainly, Facebook could regain Wall Street’s attention if they significantly beat earnings. However, analysts are not expecting much as of right now.
After Linkedin Corporation (NYSE:LNKD) was breached and passwords were stolen, Facebook quickly reassured users saying that they were going to upgrade security measures so that they won’t be as vulnerable. Facebook’s security has been under harsh scrutiny for years now and it puzzles me that the company has yet to answer the outrage until now.
The bottom line here is that Facebook needs to start double, triple checking their new apps before they are released to the public. As we move forward, earnings appears to be the only potential catalyst for getting Wall Street’s support.