Skip to comments.Facebook Shares Fall
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 ...
I know for a fact I’m not smart enough to know which is the best stock to buy at the best time at the best price and then again to sell it at exactly the best time or the best price.
Since I am not that smart, I am not dumb enough to buy individual stocks.
It looks to me that the inside buyers (you know, “normal” people like Nancy Pelosi and Facebook employees) bought in low in a sweetheart pre-buy option - and then they all sold on opening day.
They made millions.
The lumping proletariate? No, you suckers have to buy in the market and it tanked because the sweetheart’s were selling out and the initial IPO was over-valued by, like, 600% because the same dip $%^#s who wrote the Stimulus Bill and lost $2bn at Morgan Stanley (&c.) are the ones who put a random dollar figure on a Facebook share.
Sucks to be a sucker.
Poor Man’s Summary: This IPO is a great example of Liberals making liberals rich in the only way that liberals know how: Scamming the public to make money using money they never actually possessed.
Consider the following scenario:
Unlike FB, Google does have inherent advertising value. I want to buy a widget, I search Google, and Google returns hits, along with paid advertising that concerns widgets. Google does not depend so much on personal information from me in order to do this. I generally do not mmind this, as I am looking for widgets anyway. 'Course, I do limit the amount of information that I allow Google to gather about me - as a security precaution ...
Conversely, all FB has is personal information. It will have to develop algorithms to create "best guess" probabilties that I do or do not want a widget - based on the information in my account. It will then sell my information to its advertising clients - without any input from me.
If I start getting spammed on FB by advertisers for products I don't want - then I am going to limit the information that I want given out, or drop FB all together. As a result, advertisers are going to drop FB [ala GM] since they see no upside to it. No advertising - no bucks ...
I was amused and intrigued enough by your comment to the the story to find this :
” Give it time it will hit $100. Its just falling due to jitters but later on, watch out! “
I think ya got it backwards - it’s supposed to be “Pump”, *THEN* “Dump”...
That's exactly what most adults will do (have done.)
But No one has mentioned the other elephant in the room. The facilitation of the exploding criminal industry of identity theft; hacking of facebook accounts and the nightmares than ensue. The main beneficiaries of facebook are internet criminals of all kinds.
I don’t think he cares about his face, just his bank account and that is pretty much under control unless he had a hold period as well.
Hold period for all and all shares? Short term gain and taxes vs. no gain?
I’ve had shares in a hold and fail company before. Some get rich, many / most don’t.
Most real success comes from work and not windfall.
“And people were surprised that the FaceBook Insiders were in a hurry to dump as many shares as they could, as fast as they could.
The average employee was worth $3 Million in shares - what would you do, Cash in your $3 Million or hold on and hope that FaceBook wasnt another MySpace? Id take the $3 Million so quickly your head would spin. Would I still work? Yup - and hope more stock options came my way. But, my financial worries would be few, and far between.”
>>Since I am not that smart, I am not dumb enough to buy individual stocks.<<
IMHO, to know what you do not know is the gateway to wisdom.
>>A social networking site?
>>And just what product does that produce?
Well, let's see.
Home Burglary Calendar Manager...
Oh and let's not forget: "Individual Participation
Are we here...
"The answer is very simple. Long before communists occupy the city, there was extensive network of informers; local Vietnamese citizens who knew absolutely everything about people who are instrumental in public opinion - including Barbers and Taxi Drivers. Everyone who was sympathetic to United States was executed. Same thing was done under the guidance of the Soviet Embassy in Hanoi, and same thing I was doing in New Delhi. To my horror, I discovered that in the files were people who were doomed to execution. There were names of pro-Soviet Journalists, with whom I was personally friendly."--KGB Defector Yuri Bezmenov--Soviet Subversion of the Free Press (Ideological subversion, Destabilization, CRISIS - and the KGB)
I figured something was the matter - when I click on my Fakebook tab I get a blank screen.
If you think it’s going to $100 why are you trying to time the market?
so what if they have lots of subscribers? None of them pay. Visa have 1.6 billion customers and they’re only worth $25 billion, 1/4 of facebook and VISA customers DO PAY . VISA profit was $3b/year. Facebook is $1b/year