Facebook Lunacy: $SVVC is Now Trading Below Cash

Firsthand Tech. Value Fund confirms it currently holds 600,000 shares of Facebook (FB) common stock; Fund’s estimated Gross Assets at $24.51 per share  (19.27)

SVVC notes it currently holds 600,000 shares of Facebook (FB) common stock, and the Fund’s cost basis in Facebook stock is approximately $31.50 per share. The Fund also announced today that its estimated gross assets as of May 18, 2012 were approximately $210 million, or $24.51 per share. Current cash holdings total approximately $170.5 million, or approximately $19.93 per share.