CNBC has been talking about Facebook 24/7. They are focusing on Facebook's stock price and early investor selling, not bothering to mention that this investor was also taking risk off the table all the way up as well. They are constantly asking "Does this mean Facebook was not ready to be a public company?" What it means is that that Facebook and their investors who sold stock got a very good price for their IPO. Combine Facebook's 50% fall with LinkedIn's 100% rise after its IPO and early investors come out even. Adjusting for Facebook's larger market cap and the early investors in both deals have now taken more money from Wall Street than Wall Street's mispricing cost them.
CNBC's constant harping a little silly until you realize what is really upsetting them. Europe is still largely on vacation and they need a story. No one from Facebook is going on their show to talk to them about what is going on, making their job a little bit harder. In response CNBC seems to be running with the theme of "Talk to us or we are going to say bad things about you."
It would be amusing if their coverage of Facebook wasn't so repetitive and inane.