As the Facebook stock continues to end the day in the red, summer bar goers can take advantage of betting against the social network in NYC. The Waldorf-Astoria's Bull & Bear Steakhouse is now offering cocktail discounts based on the stock's performance that day.

How does this work? Basically, the worse the stock does, the better for your drink prices. A one to five percent drop in stock means $1 off $5 off your evening drink, cocktails like Strawberry Caipirinhas and the Old "Waldorf" Fashioned. For example: a 1.25 percent drop in stock that day means a $1.25 discount on cocktails. Of course, there's a catch. To take advantage of the offer, patrons also must show they "Like" the Bull & Bear Facebook page.

Known as one of the leaders in New York's cocktail culture, The Waldorf-Astoria and Bull & Bear's mixologists offer an array of signature drinks including the Strawberry Caipirinha, Silver Coin Margarita and the Old "Waldorf" Fashioned.

Looks like this is a time to bet against Facebook – assuming you don't own stock, that is.

Filed under: Food and Drink, Hotels and Accommodations, Internet Tools, Luxury Travel