FaceBomb Is Officially The Worst Large IPO Of The Decade

Tyler Durden's picture


In celebration of the one-week anniversary of FaceBomb's ultimate #Fail, Bloomberg TV is reporting that Facebook's first week of trading is the worst large IPO performance in a decade (aside from the BATS debacle -which lasted nanoseconds and potentially never really IPO'd) - well played Margin Stanley, well played! And for those that like to see the spectacle in all its glory, NANEX has provided a graphical view of the chaos as FacePlant came and went last Friday...

And some scary animation from NANEX, which we will have more to say about shortly:

From Nanex' Eric Hunsader:

Watch Nasdaq's quote (first box to appear - 10 o'clock). Note the crazy bid prices are higher than the equally crazy ask prices. After trading opens, Nasdaq's quote will start turning red when it's no longer eligible to set the NBBO. Watch how quotes on the other exchanges react wildly causing the price to evaporate.


Each box represents one exchange. The SIP (UQDF in this case) is the box at 6 o'clock. It shows the National Best Bid/Offer. The shapes represent quote changes which are the result of a change to the top of the book at each exchange. The time at the top of the screen is the time of the last quote or trade update in Eastern Time HH:MM:SS:mmm (mmm = millisecond). We accelerate time until the open, and then we slow time down so you can see what goes on at the millisecond level. A millisecond (ms) is 1/1000th of a second. The blink of an eye is about 200 ms.


Note how every exchange must process every quote from the others -- for proper trade through price protection. This complex web of technology must run flawlessly every millisecond of the trading day, or arbitrage (HFT profit) opportunities will appear.

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Fri, 05/25/2012 - 14:24 | 2463189 FLUSA.com
FLUSA.com's picture

How can I get in on some of that sweet MF Global stock?

Fri, 05/25/2012 - 14:30 | 2463215 Colombian Gringo
Colombian Gringo's picture

Imagine, how many stupid goy bought this piece of garbage!. Stupid goy deserve the Zuckerberg dick up their non kosher ass. Goy deserve to suffer for their bovine stupidity.  The tribe rules over all.

Fri, 05/25/2012 - 14:36 | 2463240 nope-1004
nope-1004's picture

The TBTF banks needed cash, NOW, so they played Zucker for the young fool he is.  Isn't it obvious?


Fri, 05/25/2012 - 14:43 | 2463274 Oh regional Indian
Oh regional Indian's picture

Whoever came up with "Margin Stanley" deserves a Silver Shield.



Fri, 05/25/2012 - 14:54 | 2463325 Xkwisetly Paneful
Xkwisetly Paneful's picture

Next time I hope they underprice it so I can read what thieves they are for skimming!



Fri, 05/25/2012 - 15:08 | 2463389 fuu
fuu's picture

Here's a hanky.

Fri, 05/25/2012 - 16:31 | 2463643 AldousHuxley
AldousHuxley's picture

Facebook IPO: $42     now $31

Blackstone IPO : $33     now $12

GM IPO:    $33     now $22

MF Global $30       now $0.04



I don't think FB is the worst......MF Global beat them over the long term.





Fri, 05/25/2012 - 15:50 | 2463513 Conman
Conman's picture

The known part is that they are thieves, that wasn't the part in question.

Fri, 05/25/2012 - 14:54 | 2463333 ThirdWorldDude
ThirdWorldDude's picture

And an honorable place in the Austrian school of Philharmonics   ;-)

Fri, 05/25/2012 - 16:03 | 2463553 Sam Clemons
Sam Clemons's picture

JP Margin too.  Chitibank.  

Fri, 05/25/2012 - 14:52 | 2463323 Colombian Gringo
Colombian Gringo's picture

At nope,


Yes, a multi billion dollar fool :-) Must suck to be him. How could anyone be so stupid? 

Fri, 05/25/2012 - 18:52 | 2463939 HelluvaEngineer
HelluvaEngineer's picture

He's not that smart.  Just right place, right time.  I know 100 guys that could write that code.  It's not that great of an idea, since it's been done before.

Fri, 05/25/2012 - 23:21 | 2464444 Cosimo de Medici
Cosimo de Medici's picture

And anyone who completed 4th Grade could have written Justin Bieber's "Baby, Baby, Baby, Ooooh", but they didn't.  And the 100 guys you know didn't write the FB code, so they are destined to work for a living.  Then there's the millions who didn't go into applied math or programming who, if they had entered that field, would have been capable of writing that code.  But they didn't.

The plain and simple fact is that Zuckerberg, love him or hate or be indifferent to him, put the whole thing together before anyone else did, and he's billions to the better for it.  If your "100 guys" goal in life was to make good money, Zuckerberg kicked their butts nine ways from Sunday.  If their goal was not to make good money, then they shouldn't care what Zuckerberg did.

I coulda been a contender!

Sat, 05/26/2012 - 10:20 | 2465126 Maghreb
Maghreb's picture

Problem is alot of shit has been done before and done to death, then done again and made money because it was marketed well enough. Facebook is pure hype and sophistry. Same with alot of whats going on with the I Phone. Voice recognition was done ten years ago and isn't that useful. Xerox already invented a system alot like windows and Gates just copied it. Its the marketing of these things that changes everything. But Facebook doesn't have a market it was way overvalued its gone from interesting toy to get rich quick scheme. Fuck him 38 dollars a share.

Fri, 05/25/2012 - 14:59 | 2463354 Xkwisetly Paneful
Xkwisetly Paneful's picture

Extremely obvious especially around these parts!

somehow the guy who singlehandedly benefitted the most from the whack pricing is the fool.

Fri, 05/25/2012 - 15:38 | 2463483 Alea Iactaest
Alea Iactaest's picture

If you think MZ benefitted the most then you are not considering the true value of FB. In immediate FRN payoff terms you might be right. In long-term data mining value (by whomever), not so much.

Fri, 05/25/2012 - 17:05 | 2463728 Marginal Call
Marginal Call's picture

He sold some of his stock.  He still owns >50%.  He's rolling the Rupert Murdoch News Corp deal with FB. 


His biggest and only worry is that the stock tanks so bad it doesn't cover his tax bill. 

Fri, 05/25/2012 - 16:06 | 2463563 rotagen
rotagen's picture

Yeah the whole ponzi scheme gives me the HEBE-Jeebies.

Fri, 05/25/2012 - 15:45 | 2463504 TJ00
TJ00's picture

I'm waiting for the New South Sea Company IPO, in the meantime stock up on Tulips,  they are the new gold, you heard it here first!

Fri, 05/25/2012 - 16:30 | 2463639 lamont cranston
lamont cranston's picture

Dear Sir:

I have a much more lucrative investment for your consideration. Please contact me at the earliest opportunity.

Sincerely yours,

Charles Ponzi

Fri, 05/25/2012 - 14:24 | 2463191 LongSoupLine
LongSoupLine's picture




Fri, 05/25/2012 - 14:50 | 2463309 onelight
onelight's picture

Well, Borowitz strikes again, with a follow-up letter from Mark:


Fri, 05/25/2012 - 15:08 | 2463388 Sam Clemons
Sam Clemons's picture

"No one could have seen this coming."

Fri, 05/25/2012 - 14:24 | 2463194 Hedgetard55
Hedgetard55's picture

I hear Robo was large long on Faceplant.

Fri, 05/25/2012 - 14:31 | 2463224 derek_vineyard
derek_vineyard's picture

did liesman get fired?   or was he promoted onto the fed as personal assistant to benny b?

Fri, 05/25/2012 - 15:40 | 2463488 Alea Iactaest
Alea Iactaest's picture

Didn't you hear? Robo rode the FB train from $38 to $42.

Fri, 05/25/2012 - 14:25 | 2463196 Hedgetard55
Hedgetard55's picture

Where's MDB? He wanted in "at any price". His troll-fu was strong that day.

Fri, 05/25/2012 - 14:31 | 2463223 BeetleBailey
BeetleBailey's picture

Lest we not forget Hedge - MillionDropletsofBoo............... hedged.

He is going to tell his grandchildren about it, so to him, this is a "long term" .....uh......investment.....

...which negates any criticism of his masterful brokerage phonage to "buy" a la Gomez Addams.

Ah...government bureaucrats...regulators.....even with their own money...they still can't spend correctly.....

Then again, it all could be a hoax, as we all know.....government workers lie like rugs.....



Fri, 05/25/2012 - 15:01 | 2463358 NotApplicable
NotApplicable's picture

You familiar with the word satire?

Fri, 05/25/2012 - 14:25 | 2463197 soopy
soopy's picture

dat's purty, real purty. must use for my next DJ set.

Sat, 05/26/2012 - 06:58 | 2464914 StychoKiller
StychoKiller's picture

Bwahahaha, me and by Bot Bruthas pwn all you meatbags! :>D

Fri, 05/25/2012 - 14:38 | 2463200 SheepDog-One
SheepDog-One's picture

Uh...hey lets get underage girl all dancing and singing crap at the world team and The Rock to perform and get people to buy FB!

Fri, 05/25/2012 - 14:42 | 2463268 Normalcy Bias
Normalcy Bias's picture

How about a Tupac hologram FB and T-Bond tour? Coming this summer to a 'hood near you!

Fri, 05/25/2012 - 16:51 | 2463698 Animal Cracker
Animal Cracker's picture

His hit song "Hail Mary" would be a fine choice.

Fri, 05/25/2012 - 14:43 | 2463275 LeBalance
LeBalance's picture

Can you smell what the Bernanke has cooking!

Fri, 05/25/2012 - 14:26 | 2463201 Ted Baker
Ted Baker's picture


Fri, 05/25/2012 - 14:27 | 2463203 LongSoupLine
LongSoupLine's picture

"How in the living fuck is it that I'm in here by myself?!?!" - Madoff

Fri, 05/25/2012 - 14:28 | 2463216 Tyler Durden
Tyler Durden's picture


Fri, 05/25/2012 - 14:37 | 2463246 ghengis86
ghengis86's picture

"ROFLMFAO" -Corzine

Fri, 05/25/2012 - 14:42 | 2463267 derek_vineyard
derek_vineyard's picture

bernie.....first rule of bankstaclub "dont steal from those that are stealing from you"

Fri, 05/25/2012 - 14:46 | 2463291 Normalcy Bias
Normalcy Bias's picture

Apparently, independent farmers are fair game...but don't you dare steal from the tribe.

Fri, 05/25/2012 - 15:16 | 2463414 El Viejo
El Viejo's picture

Bernie had little political clout and plausable deniability. No appearance of ligitimacy.

Fri, 05/25/2012 - 16:41 | 2463672 Normalcy Bias
Normalcy Bias's picture

Huh? Bernie's clout had the SEC looking in the other direction for years. He obviously had some appearance of legitimacy, otherwise so many people wouldn't have invested with him. Agreed, said appearance of legitmacy disappeared almost instantly, but MF Global/Corzine really isn't all that different in that respect...

Fri, 05/25/2012 - 14:33 | 2463219 SheepDog-One
SheepDog-One's picture

Yea where is Madoff saying that from, the private island he was set up on in the Bahamas? 

Fri, 05/25/2012 - 14:31 | 2463227 Grinder74
Grinder74's picture

How is it that I'm in bankruptcy?  Oh yeah, trumped up SEC charges and unlimited government resources for government lawyers.  Feelin' ya Bernie.

Fri, 05/25/2012 - 14:44 | 2463280 resurger
resurger's picture



Fri, 05/25/2012 - 14:46 | 2463292 ChickenTikka
ChickenTikka's picture

The answer to that is simple. Who were Madoffs clients primarily?

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