Facebook Shares Suffer 7% Fall After Oculus Deal

New Oculus Rift Now Available for DevelopersThe recently announced $2 billion deal of Facebook buying Oculus VR has taken a toll on Facebook share price.

The share price of Facebook fell by almost 7 percent to 60.38 just one day after the announcement of the deal. This is the second high profile acquisition by Facebook. Last month Facebook had astonished tech world with its $19 billion acquisition of WhatsApp.

The Oculus deal is an announcement by Facebook that the next big thing in tech is going to virtual reality and Zuckerberg is taking the initiative in acquiring promising new tech start-ups before those are snapped up by rivals Google and Apple.

However, analysts and investors do not seem to be impressed with this new deal because they feel that there is no near term justification for a $2 billion valuation for Oculus VR.

However, another investor Jim Cramer has compared this Oculus deal with the Google’s 1.6 billion YouTube deal in 2006 and looked at this with promising results in future.

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