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Facebook shares reach new low; $50 billion in market value lost
LA Times ^ | 9/4/2012 | Jessica Guynn

Posted on 09/04/2012 4:45:42 PM PDT by mojito

Facebook shares scraped a new low Tuesday.

The new drag on the already leaden stock: Analysts from two of Facebook’s largest underwriters on its botched initial public stock offering cut their price targets.

The Morgan Stanley and JPMorgan Chase analysts also reduced their revenue projections.

Shares closed down nearly 2%, or 33 cents, to $17.73 as some on Wall Street, floored that Facebook has shed $50 billion in market value in just three months, said they feared the company's stock is nowhere near bottom.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Extended News
KEYWORDS: facebook; zuckerberg
Faceplant.
1 posted on 09/04/2012 4:45:50 PM PDT by mojito
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To: mojito

Thanks for the laugh, FRiend, on a day when the DNC is making the lines so very clear.

May God share His strength. We cannot prevail without it.
Tatt


2 posted on 09/04/2012 4:49:20 PM PDT by thesearethetimes... ("Courage, is fear that has said its prayers." Dorothy Bernard)
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To: mojito

They were a bit late to the dot come bubble crash


3 posted on 09/04/2012 4:49:24 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: mojito
George Soros spent around $10.6m buying 341,000 shares. lol!

George Soros 'likes' Facebook with $10m investment

4 posted on 09/04/2012 4:49:36 PM PDT by South40 ("Islam has a proud tradition of tolerance." Hussein Obama, Cairo, Egypt, June 4, 2009)
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To: mojito

A year ago I told my grandchildren that Facebook would be virtually gone in 5 years.

Four more to go.

.


5 posted on 09/04/2012 4:51:08 PM PDT by Mears
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To: thesearethetimes...
May God share His strength. We cannot prevail without it.

Amen!

6 posted on 09/04/2012 4:51:35 PM PDT by mojito
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To: mojito

I told my wife I was putting in a bid for Facebook at $.20 each for a thousand shares. She said that sounds about right to her.


7 posted on 09/04/2012 4:52:47 PM PDT by The Working Man
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To: Mears

My projection - delisted within a year of the IPO, gone withing three.


8 posted on 09/04/2012 4:55:30 PM PDT by bigbob
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To: mojito

De wimmen is losing Pinterest.


9 posted on 09/04/2012 5:01:12 PM PDT by lightman (Settling for the "lesser of two..." is still choosing Evil)
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To: mojito

Mark’s wife is wondering what she got herself into.


10 posted on 09/04/2012 5:01:53 PM PDT by Sacajaweau
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To: bigbob
My projection - delisted within a year of the IPO, gone withing three.

They do have a billion users - people today need something like Facebook, and here it is. I think it will stick around, but it is a $3 stock at best.

11 posted on 09/04/2012 5:02:18 PM PDT by FatherofFive (Islam is evil and must be eradicated)
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To: mojito


12 posted on 09/04/2012 5:13:00 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: mojito
Interesting that this California paper neglects to include the utter disaster that their State budget people got themselves into when they bought into this IPO.

The Mercury news however has...

13 posted on 09/04/2012 5:14:18 PM PDT by n230099 ("When no one knows who is armed...everyone is.")
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To: FatherofFive

I’m a father of 5 too and agree this will not die. All of my 5 adult children, their friends & family and my wife all love keeping track of eachother on it. I’m the only one not on it.


14 posted on 09/04/2012 5:16:08 PM PDT by liberty or death
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To: liberty or death

Nobody sends me email any longer . Everybody I know can be contacted via Facebook , and one can even do live chat with a friend .


15 posted on 09/04/2012 5:18:52 PM PDT by sushiman
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To: mojito

Facebook is evil. Just deserts.


16 posted on 09/04/2012 5:25:28 PM PDT by upchuck ("Definition of 'racist:' someone that is winning an argument with a liberal." ~ Peter Brimelow)
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To: Mears
You can almost hear the Democratic controlled California Legislature sobbing along with Jerry Brown. They
had already put the higher share rate into their budget.
17 posted on 09/04/2012 5:31:30 PM PDT by funfan
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To: The Working Man
putting in a bid for Facebook at $.20 each for a thousand shares

In investing, that's called "trying to catch a falling knife". Usually not a good outcome....

18 posted on 09/04/2012 5:31:44 PM PDT by nascarnation (Defeat Baraq 2012. Deport Baraq 2013)
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To: funfan

Wait ‘til Obama loses and their plan for federally guaranteed state debt doesn’t happen.

Then you’ll really see some tears.


19 posted on 09/04/2012 5:33:57 PM PDT by nascarnation (Defeat Baraq 2012. Deport Baraq 2013)
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To: nascarnation

I’m sorry that you didn’t get the joke. But that’s ok, not everyone has the same sense of humor.


20 posted on 09/04/2012 5:33:57 PM PDT by The Working Man
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To: liberty or death

Not a question of no one using it, it’s a question of making money while providing the service that everyone uses for free.


21 posted on 09/04/2012 5:35:47 PM PDT by bigbob
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To: sushiman

Yep. Not part of it myself but I see all around me what you say is true. All my kids and grandchildren live within 20 miles so if they want to talk to me they can stop by or call my cell. If I lived overseas like you I’m sure I’d be a huge facebook user. It’s a great service, just hate the fact that all these young rich Jewish guys are flaming commie libs.


22 posted on 09/04/2012 5:38:34 PM PDT by liberty or death
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To: bigbob

Oh I get the point. It is going to find a way to generate income though, simply because it has to.

But, 38.00 a share? WTF?


23 posted on 09/04/2012 5:50:12 PM PDT by liberty or death
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To: liberty or death

Facebook is tracking and copyrighting the lives of all those in perpetuity who spend their time inputting their private information of friends, activities, political leanings, photographs, etc.. It won’t be long until most people start to understand that privacy is more important than allowing a corporation to hold the rights to one’s life. These liberal upstarts have colluded with the Wall Street gang to strip $50Billion from the fools who bought the stock.

I agree with others that the public foolishly bought into the concept of sharing private lives, while Facebook is recording it all, and now the smart money and people in the know and who can see just how destructive that lack of privacy will be to careers and privacy do understand that we will soon not want it.

Zuckerburg supposedly stole the concept originally, and now he seems to have stolen a lot of money for an imaginary business that makes no money.


24 posted on 09/04/2012 5:52:27 PM PDT by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: apoliticalone

Zucky was just following the Hillary Clinton model.

Remember how valuable the FBI files were....any chance Craig Livingstone is on the payroll @ FB?


25 posted on 09/04/2012 5:56:07 PM PDT by nascarnation (Defeat Baraq 2012. Deport Baraq 2013)
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To: liberty or death
All of my 5 adult children, their friends & family and my wife all love keeping track of eachother on it.

And they all pay nothing to use it. Hard to make money on a 'free' service, especially one that is hard to monetise on moble apps.

They will make some money, but noting to justify the high valuations.

26 posted on 09/04/2012 5:58:29 PM PDT by FatherofFive (Islam is evil and must be eradicated)
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To: upchuck

“Facebook is evil. Just deserts.”

Right on! I loathe it too! Talk about and invasion of privacy.


27 posted on 09/04/2012 6:12:41 PM PDT by vette6387
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To: mojito

Buying opportunity!


28 posted on 09/04/2012 6:16:14 PM PDT by Revolting cat! (Bad things are wrong!)
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To: liberty or death

” just hate the fact that all these young rich Jewish guys are flaming commie libs. “

I hear ya !


29 posted on 09/04/2012 6:26:05 PM PDT by sushiman
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To: upchuck

Facebook is an Eighth Commandment-free zone predominated by condependant narcissists and voyeurs. Its omnipresence and entanglement into e-commerce are spreading like metastatic cancer.

One of the marks of the Beast is a white lower case “f” on a blue square


30 posted on 09/04/2012 6:27:48 PM PDT by lightman (Settling for the "lesser of two..." is still choosing Evil)
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To: mojito
Facebook shares reach new low; $50 billion in market value lost "

The "get rich quick" crowd is generally clueless. That's why Wall Street makes money no matter what stock values do.

31 posted on 09/04/2012 6:34:27 PM PDT by publius911 (Formerly Publius 6961, formerly jennsdad)
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To: mojito

Facebook is an $8 stock, period. Once it goes below that, it becomes a potential buying opportunity. There is NOTHING on the immediate future that remotely makes that stock worth a dime more than that.

If your money is in any fund that bought this stinker and it isn’t chartered with a 10 year+ time horizon you need to get your money somewhere else asap. Any manager buying this junker is being a fool with your money.


32 posted on 09/04/2012 6:35:11 PM PDT by HamiltonJay
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To: liberty or death

It’s not going to die, but it’s not and never was a $38 or whatever it was stock. It’s an 8-10 stock. It’s profitable, it’s not vaporware. Try have to work on better monetization of mobile particularly but they aren’t going anywhere.

I give Facebook credit they bilked every penny they could in their IPO.. You sell an $8 item for $38 to millions of buyers you aren’t a fool but youdo show how foolish a lot of folks on wall street are


33 posted on 09/04/2012 6:40:29 PM PDT by HamiltonJay
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To: lightman
IMHO, Facebook will be taken down by Creative Destruction.
34 posted on 09/04/2012 7:53:23 PM PDT by upchuck ("Definition of 'racist:' someone that is winning an argument with a liberal." ~ Peter Brimelow)
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To: mojito
$50 billion in market value lost

It ain't 'lost'; as it is STILL in the hands of those to SOLD to the suckers to begin with!

35 posted on 09/05/2012 9:34:51 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: sushiman
Nobody sends me email any longer . Everybody I know can be contacted via Facebook , and one can even do live chat with a friend .

I've noticed this as well.

OLD geezers (HMMmm...) use e-mail; young folks hardly even respond to it.

One needs to have bought a smart expensive phone to REALLY use Facebook to full advantage I've heard.

Live chat with friend?

Like on the PHONE???

36 posted on 09/05/2012 9:38:37 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: apoliticalone
Zuckerburg supposedly stole the concept originally, and now he seems to have stolen been given a lot of money for an imaginary business that makes no money.
37 posted on 09/05/2012 9:40:30 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: HamiltonJay
You sell an $8 item for $38 to millions of buyers you aren’t a fool but youdo show how foolish a lot of folks on wall street are

There ya go!

38 posted on 09/05/2012 9:42:27 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

” Live chat with friend?

Like on the PHONE???

I’m in Japan . Don’t own a smart phone .


39 posted on 09/05/2012 2:46:24 PM PDT by sushiman
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