GSV Capital Sell Off Overdone?

GSV Capital Corp (NASDAQ: GSVC) is having yet another down day after Facebook's (NASDAQ: FB) infamous IPO last Friday. The company is widely known for holding pre-IPO shares of Facebook and many investors were expecting a rally in Facebook shares to make GSV Capital's stock to go through the roof.

As Facebook's IPO turned out to be a big belly flop, GSV Capital's shares tanked nearly 30% and are currently trading around the $12 level. Yesterday, Benzinga spoke with the company's CEO, Michael Moe, who noted that Facebook is actually only 4% of the company's overall holdings. Based on the small number of shares held by GSVC, the recent sell off seems overdone.

Ascendiant Capital Market analyst, Edward Woo, who has a Buy rating and $20 price target on GSV Capital agreed that the sell off is overdone. He also brought up the fact that Facebook makes up a very small portion of GSV Capital's overall holdings, which include private tech companies, such as Twitter and Dropbox..

GSV Capital is currently trading at $11.91, down $0.26 or 2.14% on the session.