Posted on 05/21/2012 8:34:23 AM PDT by WellyP
Facebook shares [FB 33.64 -4.5918 (-12.01%) ] plunged more than 13 percent on Monday, falling below the $38 price of the initial public offering, in the social network's second day of trading as a public company.
The stock sank without the full support of the company's underwriters, leaving some investors down nearly 25 percent from where they were Friday afternoon.
Facebook's debut was beset by problems, so much so that the Nasdaq said on Monday it was changing its IPO procedures.
(Excerpt) Read more at cnbc.com ...
If you’re reading this Zuckerman, I know you’re on your honeymoon, but you have to pull out and get back to the office....NOW!
Give it time it will hit $100. It’s just falling due to jitters but later on, watch out! Bang zoom to the moon. FB is the most popular website in the WORLD second only to Google, it has close to a BILLION subscribers and gets more everyday. I say it goes below $20 and stays around the teens and thats when Im buying.
Somebody bought into the hype. PT Barnum was right on.
You can't lose what you never had. Paper is just paper.
PT Barnum didn't really say it.
http://www.historybuff.com/library/refbarnum.html
I also hate the friggin Timeline and I laugh Facebook’s stock debut to scorn.
“PT Barnum didn’t really say it.”
And the word gullible isn’t in the dictionary. It’s not. I just looked. Check it yourself. Go on.
Thank you. GREAT article. The fact that Barnum copied the giant and then claimed he had the real one and the other guy had the fake was hilarious. The guy was a born politician.
The lyrics from the first stanza of the musical “P T Barnum” are an accurate description of not only the FB IPO buyers, but also the obamaBots:
“There is a sucker born every minute
Each time the second hand sweeps to the top
Like dandelions up they pop,
Their ears so big, their eyes so wide.
And though I feed ‘em bonafide baloney
With no truth in it
Why you can bet I’ll find some rube to buy my corn.
‘Cause there’s a sure-as-shooting sucker born a minute,
And I’m referrin’ to the minute you were born.”
sigh - I got stuck in meetings last week and forgot to short it...
Indirectly this time. The next wave of visible losses will be the broker who hyped this fraud. How many retirement accounts have real money interest in THAT loser?
Something will continue to hit the fan on this one.
If I recall correctly, they were targeting an initial offering of around 500 million shares. I’m not sure if that’s on top of what management assigned themselves in order to keep control...I think it was something like 57%. If that means they have another 500 million+ shares out there, or even if it means they have 260 million or so and they’re selling 240 million, then that’s the Mona Lisa question. It’s worth a fortune because there’s only one of them. Other than that it’s just a picture and WalMart has pictures for 19.99.
Hopefully, buyers aren’t pretending that they’re getting in on the ground floor of something with 250 million to 500 million shares out there to be bought.
Why? If he cashed out just 10% of what he got, he's laughing all the way to the bank.
Permanently.
If you don't like the Timeline there's a way to disable it. It's working for me with Apple Safari browser, Firefox and Google Chrome but it doesn't seem to work for Microsoft Internet Exploder....
For the new generation, Barnum will live on getting credit for this saying. He had to have been studied heavily by the Dem politicians for his loose use of the truth.
Old timers call that Whistling Past the Graveyard.
They've been proven right 95% of the time.
But what the heck. No guts no glory; go for it.
Spreading the wealth IS a good thing.
Say what? Isn't inference a most powerful engine of thought?
: )
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