Hello all you Angry Facebook investors. Are you having regrets now, buying into the hype that was the Facebook IPO? I’m not, and neither is the Angry Systems Administrator since we were smart enough to stay as far away from this disaster as we could. Since Faceplant Facebook closed at it’s opening day’s astounding high of $0.23 share above the IPO price, the stock has plummeted like a rock. It closed today at $31 dollars a share. The IPO was for $35 dollars a share.
Whoopsie!
Now there are reports of shenanigans, insider dealings and subpenas being issued. I don’t know if Mark Zuckerberg knew anything about this. It looks like the problems were with NASDAQ, Morgan Stanley and a few other brokerage houses. It will all be sorted out in the next few weeks, bribes fines will be payed and the common investor who bought into all this will get shafted.
So, what will the value of Facebook be in a month or two? I can’t say for sure, but I think this image may give you some idea:
Facebook really isn’t worth $38 dollars a share. It might be worth $3.85 a share and will probably hit that in a few weeks. I really hope the new Mrs. Zuckerberg does well as a doctor. The happy couple, now honeymooning in an undisclosed location with no extradition treaty with the U.S. might end up living on what she earns. Well, there is the bonus that Hubby can kill their dinner, so they probably won’t starve. 😉
That is all…for now. (Yes, I’m having way to much fun picking on Facebook’s IPO Faceplant)
~The Angry Webmaster~
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P.S. On Facebook and Excuses – The excuses about the NASDAQ creating problems for the Facebook IPO on opening day are humorous at best. I wrote it earlier in the year and I’ll re-state… 32 minutes ago. MarketTicker Forums · The Market …
Stocks give back early gains while Facebook continues face-plant …
Stocks give back early gains while Facebook continues face-plant. Posted on … After Monday’s bounce higher, Apple lost 0.8% in Tuesday trade, while Facebook shares lost another 9% to $31.12, off 18% from its IPO setting of $38 a share.
http://perspectives.wrightinvestorsservice.com/ — Tue, 22 May 2012 15:50:30 -0700
“What a colossal faceplant,” Money Morning Chief Investment Strategist Keith Fitz-Gerald said Monday in a market report. “The hope was that millions of investors would get caught up in the hype and … The bank, along with Facebook executives, agreed to increase both the IPO size and price just days before the May 17 IPO, disregarding recommendations from some co-managers, according to Bloomberg News. Facebook hiked the number of shares being sold in the IPO by 25%, …
Faceplant. As speculation mounts over whether FB could set the record for the shortest period between IPO and class action lawsuit, Reuters reports: Massachusetts Secretary of Commonwealth William Galvin has issued a subpoena to Morgan Stanley over … “The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst’s discussion with certain institutional investors about the revenue prospects for Facebook,” a spokesman for Galvin’s office said.
The IPO. Two things about Facebook’s massive faceplant: 1) Anyone could have seen this coming. The hype was so intense there was no way FB could live up to it. For a company not turning a profit, a $100 billion market cap was just absurd.
Is Facebook IPO Google all over again? – Best US Stocks To Invest …
FACEBOOK: AN IPO MILESTONE Facebook or face-plant? Facebook set to evolve Who’s friending Facebook? Easy money’s already made Facebook files for $5 bn IPO The year of Facebook MW Topics: Facebook …
http://usa-stocks.blogspot.com/ — Tue, 22 May 2012 14:48:00 -0700
It is by now well-known that certain large banks were heavy defenders (by mandate and then by sheer panic) of the Facebook share price post-IPO. Margin Stanley appears to have been the name of choice for this defender, and by dint of …
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