Posted on 06/19/2012 5:03:52 AM PDT by C19fan
The owner of the Dallas Mavericks got caught up in the hype surrounding the Facebook IPO launch a month ago and snapped up 150,000 of the social media giant's shares, but the excitement was short-lived. Today, the gregarious self-made billionaire announced that he sold all of his shares after admitting that he took a hit in the market. ‘My thesis was wrong,' Cuban said in a CNBC interview. ‘I thought we’d get a quick bounce just with some excitement about the stock. I was wrong, and when you’re wrong you don’t wait, you just get out. I took a beating and left.’
(Excerpt) Read more at dailymail.co.uk ...
Facebook may fail but another will arise, and it will be just like Minority Report in the very near future, no matter where you go scanners will see your face, will track you and your habits.
how could his 150,000 shares be worth $5billion??? that would mean each share was worth $33,000...stock never got above $38/share...
This proves he's not nearly the shark that Kevin O'Leary is.
This proves he's not nearly the shark that Kevin O'Leary is.
Headline is quoted correctly, but should read “5 million”.
He probablyu dropped $2 Million max.
Well then losing a few million is chump change to Cuban. With all that media hype and attention good reason to have shunned FB. Cuban pining for his former glorious dot.com years? These ain’t they.
Reporters get so used to writing about the federal budget the difference between “million” and “billion” starts to seem inconsequential.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.