Facebook At All-Time Lows; -31% From Highs

Tyler Durden's picture


UPDATE: 6 minutes into the day-session and FB has a $30 handle and 17mm shares traded.

1.8mm shares have traded this morning as the long-selling continues as the stock-that-shall-not-be-named traded as low as $32.70 this morning (from its $45 highs on Friday)...


Not helping matters is the Reuters report that:

"Morgan Stanley unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to the huge initial public offering, and while an investor roadshow was underway, was a big shock to some, said two investors who were advised of the revised forecast."

Cue the shareholder class-action lawsuits.

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Tue, 05/22/2012 - 08:38 | 2450337 Ratscam
Ratscam's picture

Fuckbook, when can we start shorting this baby. CFD's with Saxo don't work yet.

Tue, 05/22/2012 - 08:40 | 2450342 green_dreams
green_dreams's picture


Yeah GFT CFD shorts ain't working either. (In AUS)

Tue, 05/22/2012 - 08:43 | 2450359 Aziz
Aziz's picture

My back of an envelope calculation on this is that fair value is something like $2-4 a share (maybe less considering Zuckerberg is happy to trade away a year's ad profit buying an App that he could have duplicated in-house for maybe 0.01% of the cost), but for a while yet Facebook may survive above $10 a share (however without serious revenue growth even that considerably reduced price looks hugely inflated).

Biggest danger is Zuckerberg (Suckerberg?) the narcissist has majority voting rights, and can essentially do whatever he wants, including destroying the company buying crap like Instagram at bubble prices.

Tue, 05/22/2012 - 08:45 | 2450369 MillionDollarBonus_
MillionDollarBonus_'s picture

Bought another 300 shares yesterday - taking advantage of this discount. It's all about dollar-cost averaging. My average entry is now at $38 so I'm in the same boat as most of the top buy-side bidders at the original offering.

Tue, 05/22/2012 - 08:50 | 2450386 GetZeeGold
GetZeeGold's picture



Just 300 shares? You must be po.


You know you're po when you can't even afford the OR. That's pretty po.


The good news is if you're buying FB.....you're gonna be even more po now.


Tue, 05/22/2012 - 08:56 | 2450415 MillionDollarBonus_
MillionDollarBonus_'s picture

I'm averaging into a sizable position by taking small bites. I recognized this was going to be a volatile first few weeks, so I thought it prudent to buy in incremements.

Tue, 05/22/2012 - 08:59 | 2450431 GetZeeGold
GetZeeGold's picture



Sounds like you're dialed in to me......don't change a thing.


Tue, 05/22/2012 - 09:07 | 2450463 Richard Chesler
Richard Chesler's picture

Fools and their money: All aboard the Failbook!

Tue, 05/22/2012 - 09:23 | 2450555 WonderDawg
WonderDawg's picture

What a wonderful story to tell your grandchildren. How smart you are. Brilllllllliant. They will sit and listen with wide eyes and open mouths as you describe your genius.

Tue, 05/22/2012 - 09:38 | 2450652 Badabing
Badabing's picture

What a joke first MS tries to prop the price


and then they say they trimmed his outlook for the social-networking firm's revenues just days before the deal went live


but the truth of the matter is


LOL  where is the SEC or the CFTC the blame game has just begun.

Tue, 05/22/2012 - 09:45 | 2450678 cossack55
cossack55's picture

The SEC is downloading porn and the CFTC is busy reading their instructions they just received from JPM

Tue, 05/22/2012 - 09:54 | 2450715 dannyboy
dannyboy's picture

Blythe Masters brought out the whips n chains ;).

Tue, 05/22/2012 - 10:11 | 2450799 jus_lite_reading
jus_lite_reading's picture

Ohhhhh god! Thats a foul image!!

Tue, 05/22/2012 - 10:28 | 2450865 Max Hunter
Max Hunter's picture

Brokers not allowed to tell clients to own silver??  Interesting



Tue, 05/22/2012 - 10:35 | 2450890 The Big Ching-aso
The Big Ching-aso's picture



Shit.  It looks like this thread's gonna be updated on ZH every day 4 about 10 years.

Tue, 05/22/2012 - 09:24 | 2450557 Dr. Richard Head
Dr. Richard Head's picture

Pump 'em, dump 'em, facebook fuck 'em!

Tue, 05/22/2012 - 09:44 | 2450630 The Big Ching-aso
The Big Ching-aso's picture



'Facefart 451'

Tue, 05/22/2012 - 09:56 | 2450725 The trend is yo...
The trend is your friend's picture

The sad reality is that the retail sheep already bought this POS at the very top.  They ar not going to average down and hedgefunds who already flipped are not going to buy any shares back because they they already know its garbage.  Who is going to buy it? It will continue to sell off another 20% from here

Tue, 05/22/2012 - 10:09 | 2450733 The Big Ching-aso
The Big Ching-aso's picture



Geez.  If U bot @ $38 I bet U feel like U really bot Facerook.

Tue, 05/22/2012 - 09:03 | 2450447 Long-John-Silver
Long-John-Silver's picture

 There are winners and losers for every trade. The winners thank you.

Tue, 05/22/2012 - 09:56 | 2450722 crawldaddy
crawldaddy's picture

not really


If you bought at 38 and sold at 35, I did not win at 35 because now the stock is worth 31.



Tue, 05/22/2012 - 16:15 | 2450784 The Big Ching-aso
The Big Ching-aso's picture



Facemuck.  It seems there's a zucker born every HFT nano-second these days.


Tue, 05/22/2012 - 09:10 | 2450478 Element
Element's picture

Isn't facebook like a minor 'App' on iThingys?

Tue, 05/22/2012 - 10:12 | 2450769 AlaricBalth
AlaricBalth's picture

Yup.. And sheeple who view FB with their IThingys create virtually zero revenue for FB. The genius's at FB have yet to figure out the most effective way to monetize their mobile app.

Tue, 05/22/2012 - 09:12 | 2450489 azzhatter
azzhatter's picture

I would margin up if I were you.

Tue, 05/22/2012 - 09:45 | 2450681 bdc63
bdc63's picture

Now THAT is an excellent idea ... maybe even take a second (third?) mortgage out on your house and then leverage THAT money into a GINORMOUS facebook position ....

Tue, 05/22/2012 - 09:52 | 2450708 Stuck on Zero
Stuck on Zero's picture

Remember, go in for the long term.  Think twenty or thirty years out.  What a legacy to hand to your Grand children.  It's a new paradigm.  Think of your retirement years.  The opportunity is now! Don't be timid.  The stock market always goes up in the long term.  Don't let your money sit around idly.  Put it to work.  Invest in the future.  Don't be short-sighted. 

Did I miss any cliches?

Tue, 05/22/2012 - 10:16 | 2450822 Nobody For President
Nobody For President's picture

What's good for Facebook is good for America?

Tue, 05/22/2012 - 09:15 | 2450508 francis_sawyer
francis_sawyer's picture

Million Dollar Bonuses... Easy come easy go!

Tue, 05/22/2012 - 09:24 | 2450564 Dr. Richard Head
Dr. Richard Head's picture

You can't eat Facebook. 

Tue, 05/22/2012 - 10:15 | 2450817 connda
connda's picture

Why don't you just wait for it to drop to $3.80 and buy 3000 shares. 

Tue, 05/22/2012 - 10:19 | 2450835 paddy0761
paddy0761's picture

I think you've been buying in excrementally, not incrementally.

Tue, 05/22/2012 - 11:43 | 2451179 The Alarmist
The Alarmist's picture

"I'm averaging into a sizable position by taking small bites. I recognized this was going to be a volatile first few weeks, so I thought it prudent to buy in incremements."

Under the definition of shill in Merriam Webster, see MDB.

Tue, 05/22/2012 - 08:56 | 2450417 Long-John-Silver
Long-John-Silver's picture

He's going to be even poorer when he sells his Failbook stock @ $2 a share.

Tue, 05/22/2012 - 09:05 | 2450454 Bahamas
Bahamas's picture

It might rebound when it reaches 6,66

Tue, 05/22/2012 - 09:01 | 2450437 Oh regional Indian
Oh regional Indian's picture

For me, this Farcebook IPO showed what a bought in, smarmy two faced guy Bono is. Mr., Music, Mr. Africa. Mr. Insider.

Over and over, all these industries, in-bred, self-enrichiing...

To see his smug face with $1.5 billion against it made me want to throw up.

And Peter thiel. On and on.

It's who you know and who you blow that counts.




Tue, 05/22/2012 - 09:06 | 2450461 BlueCollaredOne
BlueCollaredOne's picture

Bono is a friend of the Bill and Melinda Gates foundation making him just another globalist scumbag.

Tue, 05/22/2012 - 09:15 | 2450509 Oh regional Indian
Oh regional Indian's picture

Exactly. And if he was plant from the start (which they usually are), imagine how much damage he did with U2.

And I've never heard his say a word about the Irish situation.


Tue, 05/22/2012 - 09:37 | 2450648 Itch
Itch's picture

Um, imagine he was psy black ops and registered with them in the 70s...and all the emotional gobbledygook he says in his songs is designed to zone people out, spastification or something; after listening to his lyrics we all start to group think more cohesively. So tell me ORI…Did he disappoint you, leave a bad taste in your mouth? Something to think about there chief.

Tue, 05/22/2012 - 10:22 | 2450847 Oh regional Indian
Oh regional Indian's picture

Of course Itch, that is precisely what I'm alluding to. Him, Sting (I''l be watching you....ohhh can't you seeeeeee), even  the Beatles for heaven's sake. 

The Beatles were a coked out, poorly performing British Band in some German town's seediest district.

That is the kind of place they usually pick 'em.

And then of course there is Laurel Canyon.



Tue, 05/22/2012 - 10:05 | 2450688 monkeyboy
monkeyboy's picture

U2 are fucking shit(one of the most boring bands I've ever had the displeasure to see live. Left early).

And Bono is a sanctimonious, hypocritical cock of the highest order.

Fuck Bono & fuck U2.

Tue, 05/22/2012 - 10:02 | 2450751 granolageek
granolageek's picture



I know a bit about Ireland. The place is even more wired than the US. No matter what his agenda, totally sincere or CIA plant or anything in between, getting involved in Irish internal affairs would not have advanced his agenda.


He is not part of the in-crowd there, and never can be. If he makes Ireland look good and doesn't rock the curragh they will be nice to him. If he bothers them, they will drive him into exile to protect their control of their little postage stamp.

That will be a lose-lose position whereas the current situation is win-win.

Tue, 05/22/2012 - 10:20 | 2450837 Oh regional Indian
Oh regional Indian's picture

GG, thanks for that fascinating insight. 

Sounds a bit like India. Nto quite the postage stamp though! :-)


Tue, 05/22/2012 - 10:22 | 2450848 kridkrid
kridkrid's picture

That level of orchastration is too much for me to get my arms around.... but the scene in the godfather... U2 owes godfather a favor (or a series of favors) just like Johny Fontane.  Somewhere along the line, a band like U2 proves to be willing to play the game... like Frank Sinatra.  Seems more reasonable than a plant from the start.  

Tue, 05/22/2012 - 11:11 | 2451051 mvsjcl
mvsjcl's picture

And that very odd handshake shown. Hmmmmm.... Very "illuminating."

Tue, 05/22/2012 - 08:53 | 2450400 LongSoupLine
LongSoupLine's picture

Holy shit MDB...that's hilarious!

Tue, 05/22/2012 - 08:54 | 2450401 malikai
malikai's picture

I wish I was on the other side of that trade.

Tue, 05/22/2012 - 10:54 | 2450991 Matt
Matt's picture

Selling your $45 FB shares to MDB for $38?

Tue, 05/22/2012 - 08:54 | 2450402 BadKiTTy
BadKiTTy's picture

MDB you are the best! LMFAO!!!! 


Keep 'em up. : ) 


K @ 

Tue, 05/22/2012 - 08:55 | 2450409 Johnny Yuma
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