Posted on 05/18/2012 9:00:27 AM PDT by C19fan
Well, the deed is done. Facebook, which priced its IPO at $38 a share, opened for trading this morning at $42.05, 10.7% above the IPO price. Subsequent trades have been lower, and has been slipping from there; the stock is hanging tight at the $38 offering price.
(Excerpt) Read more at forbes.com ...
Tells you it’s a non-funding oriented IPO which we already knew. The two reasons to IPO are to get the company money or for the founders to reap their reward, FB has no funding problem.
FB was clearly being supported by someone at $38. There has to be a mountain of buy orders sitting at that level (probably by the underwriters) to maintain the market facade. The stock repeatedly bounced at $38 refusing to go below about 45 mins ago or so.
They’re not going to let it slip below the ipo price, at least not early on.
Free Republic is my own Facebook — far more interesting material & posters. Shared interests & values — major flaw with these social media websites.
Whereas Disney World is a place for kids run by adults, Facebook is a place for kids run by kids. (Maybe overfeminized — very frivolous; no masculine voice or superego.)While I see the uses for Facebook and its ilk as far as seriously contacting families & friends, the majority of it is useless blather.
And the kind of people it attracts! Someone who keeps posting on my Facebook page I knew from school; she was a notorious attention whore. Kept disrupting the class with her comments & antics. She took to Facebook like a duck to water. The neediest bunch I ever saw.
I absolutely will not buy stock from Facebook, even if it were offered to me on a silver platter. I go on from time to time to check for anything important (e.g. new baby, someone’s surgery), but that’s it.
I feel like defriending everyone by writing “F- you” on the wall.
Good analysis.
I would just add my concise renaming of Facebook which I use to chide my daughters about the REAL motivation for 95% of the crap posted there:
Bragbook.
We have a winner!!! Check out Drudge mini-headline
CNBC: FACEBOOK touched offering price of $38/share, but did not fall below due to underwriters' coming in to support...
If FB fails to post above $38 today it will be a harbinger for a huge pullback in stocks. The Fed and its Banksters will do anything to prevent this.
Cancled my account today. Facebook is useless! Free at last!
Next it’s aloha twitter!
If I had the nerve I would have Shorted face book right out of the gate.
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