FaceBerg Sinking At -40% Below IPO Level

Tyler Durden's picture

Presented with little comment - except to not that everyone's favorite social media site that will 'figure out mobile' is now down 40% from its IPO price...

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monopoly's picture

Buy the dip. :)

fonzannoon's picture

screw facebook. Let's see the elephant hunters go after amazon and then it gets interesting.

Careless Whisper's picture

AOL, MySpace, Facebook... what's the difference?

Dr. Richard Head's picture

Different names for the same turd.  No offendse to you, good sir, Turd Ferguson.

FrozenOut's picture

Difference is facebook is even more callous about abusing your privacy.

jimmytorpedo's picture

Difference is AOL and MySpace din't provide enough info to put everyone in the right FEMA camp.

So they had their In-Q-Tel vultures start a real data mining program.

Now they know what colour reflector to put at the end of your driveway.

No way to value that into the P/E.

SubjectivObject's picture

For all the nom de-plumeds inspired over its ... public ... life, the one I alwayd thought most appropriate and good for a giggle every time is FacePlant. 

WB7 can have a field day with that; a running series of faceplants.

Vincent Vega's picture

Facebrrrrrrrrrrrrrr!

orangedrinkandchips's picture

The chart shows a GREED spike when the IPO came out...

 

It shows pure, unadulterated GREED by these employees, the super heb himself and MS.....to name a few...

 

THEY THOUGHT IT WOULD BE LIKE AMAZON AND LEVITATE WITH NO REGARD TO ANY FUNDAMENTAL METRICS.....THAT IS RIGHT... JUST THE NAME WILL GIVE IT A 200 P/E...that shit just gets so funny....like the cartoons running off a cliff and staying there!!!

 

Winston of Oceania's picture

When you mix "greed" with a bit of temperance you get prudence, as in a prudent investment. Rather than berate an unstoppable emotion such as greed it would be better to council our neighbors in temperance so that we ALL might be more prudent.

 

* as for the nega-tick I certainly wasn't speaking of alcoholic temperance...

MeelionDollerBogus's picture

no, greed has no positive outcome. Loss avoidance and increasing efficiency are good but not greedy. Greed is always taking unsustainably, sometimes from others, sometime's from one's resources, sometimes from one's future resources but it always ends badly.

Dr. Richard Head's picture

I love the fact that people have diarrhea of the Facebook and splooge all intimate details of their life affairs on FuckmyFacebook.  That ought to be worth something?

Whoa Dammit's picture

FB mainly shows how sadly boring but vain most people are. Its the modern version of the neighbors who always wanted to show everyone else in the neighborhood the slides from their vacation. What's that worth?

Dr. Richard Head's picture

So far it has been worth passing the bags of shit onto bag holders who were duped the MSM into thinking VanityBook was a good business opportunity.  I would also imagine it was worth a nice fresh stinking pile of derivatives.  All Hail the Banksters!

Peterpaul's picture

You have no idea! Part of my job is to track down deadbeats so our firm can go after assets. I get details, usually from people's wives or girlfriends, as to where they may be living and/or other assets all the time. Then they get served.

Idiots. Why anyone leaves that open is beyond me...

Jason T's picture

OT: According to Zillow, my house just lost $12k in the last 30 days..  thought housing bottomed and was going up from here?

Dr. Richard Head's picture

I borrowed $269K from my piece of suburban utopia yuppie key-partyville back in 2007 (before I entered the world of ZH).  There are 80 homes in me development of lab rats and three are currently on the market, empty, for $199K, $200K, and $202K.  I would imagine, based on shadow inventory, foreclosures, and further deflation in the housing market, that they will be worth $110-120K when all is said and done.  Then again, $110K might be the price for a bottle of KY jelly then.  Lord knows the KY Jelly will have much more value, as my anus is goatsed to the max.  Thanks Benrnake, Freddie Mac Kiss My ass.

On a side note, my three year old loves the song red solo cup and the line "Freddie Mac kiss my ass" is her favorite.  I don't correct her and encourage her to sing that line to all she meets.

Dermasolarapaterraphatrima's picture

Dr., I never thought the plunge would affect the lower priced houses also but I am now seeing $155K houses dropping to $116k with almost no interest even at that level. Some two story houses are on the market for over 180 days for less then $42 per sq foot and zero takers...zippo...nada.

I took at look at some of Dr Bubbles places in Cali (Laguna this and San that) and they are now dropping as the infection spreads. As significant, OC Pension is in the hole $10 billion so more pain to come maybe:

 

The Orange County Employees Retirement System – which has assets valued at some $10 billion — also happens to be about $10 billion shy of what it needs to fulfill its pension promises to workers, according to a study of California’s largest independent pension systems by researchers at Stanford University. Put another way, OCERS is only 53.5 percent funded, they said. Stanford suggests that a healthy system must be at least 80 percent funded

 

http://taxdollars.ocregister.com/2012/03/09/stanford-o-c-retirement-syst...

 

Property taxes have to rise or pensions cut they say.

Rainman's picture

" California has nearly 10 times the number of underwater homes compared to homes listed on the MLS ".

http://www.doctorhousingbubble.com/expensive-homes-california-home-prices-up-low-interest-rates-2012/

Dr. Richard Head's picture

The Fed and Freddie/Fannie can only delay the inevitable.  The idea that a handfull of silver will be able to secure a dwelling in the future sure seems a distinct possbility.  Debt repudiation will be required at some point where digital representations of assets and debts revert to the mean of their true value - Mother Fucking Zero!

Winston of Oceania's picture

It went down because they are through assesing your homes value for TAXES, get a clue, then get pissed and file suit. This has been going on for five years now, they don't even look at the physical property any longer, house could be made of cardboard and they use "comparative sales values". It would of course help if they actually compared it to something...

bob_dabolina's picture

Does anyone remember the congressman on CNBC prior to the Facebook IPO compelling FB to be responsible and let charities get in on the action? In one of the rare moments I witnessed a CNBC anchor pose the only coherent question "but what if the stock price goes down?" the reply to which came as quick as a jack rabbit "but it won't come down, let's be real about this opportunity"

ha. ha fucker

LoneStarHog's picture

Bob Pastrami Circa 2003 With Gold Trading Around $350"Trust Me, Folks, Gold Is Going Nowhere!"

neptunium's picture

I'm quite sure we're heading for another monumental pan-global stock market crash, P/E has been completely ignored in so many cases that Facebook and Amazon are just the tip of the iceburg, I refuse to believe they can keep this bubble propped up long enough for genuine earnings/growth to step in and save the day.

 

 

Cursive's picture

@neptunium

It'll go down, for sure.  But now we've got the end-of-month to deal with and don't forget the beginning of the month brings all sorts of 401(k) buyers into the market, so we've got to wait awhile longer.

Tippoo Sultan's picture

Post-election, the markets will tumble.

MeelionDollerBogus's picture

more than ignored - the one fool who told me that FB was a good buy also told me that P/E analysis is garbage. FOREVER. On EVERYTHING not just FB.

Cursive's picture

FB IPO was suppossed to save 2012.  I guess the market doesn't need any horsemen.  It just chugs along, regardless of leadership.  Rotation, rotation, rotation.  Hot potato, hot potato, hot potato.

UGrev's picture

This is just a reminder that when your "product" really isn't a "product".... *BAWOOSH*

Winston of Oceania's picture

They're product is information, they just don't seem to grasp that.

pods's picture

The alphabet soup agencies certainly grasp that.

pods

RacerX's picture

But it's so much *more* than just a product.

Product is so 1980.

Winston of Oceania's picture

They'll be fine once they start selling all your information to Google, ALL of it...