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Facebook At All-Time Lows; -31% From Highs
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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Fuckbook, when can we start shorting this baby. CFD's with Saxo don't work yet.
Facefuck.
Yeah GFT CFD shorts ain't working either. (In AUS)
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.
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.
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.
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.
Sounds like you're dialed in to me......don't change a thing.
Fools and their money: All aboard the Failbook!
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.
What a joke first MS tries to prop the price
http://www.bloomberg.com/news/2012-05-19/facebook-banker-morgan-stanley-props-up-price-it-helped-boost.html
and then they say they trimmed his outlook for the social-networking firm's revenues just days before the deal went live
http://www.marketwatch.com/story/morgan-stanley-cut-facebook-view-before-iporeport-2012-05-22?link=MW_story_latest_news
but the truth of the matter is
http://www.moneycontrol.com/news/world-news/morgan-stanley-made-big-betfacebook_706596.html
LOL where is the SEC or the CFTC the blame game has just begun.
The SEC is downloading porn and the CFTC is busy reading their instructions they just received from JPM
Blythe Masters brought out the whips n chains ;).
Ohhhhh god! Thats a foul image!!
Brokers not allowed to tell clients to own silver?? Interesting
http://www.youtube.com/watch?v=ERLiHp0d3kQ
Shit. It looks like this thread's gonna be updated on ZH every day 4 about 10 years.
Pump 'em, dump 'em, facebook fuck 'em!
'Facefart 451'
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
Geez. If U bot @ $38 I bet U feel like U really bot Facerook.
There are winners and losers for every trade. The winners thank you.
not really
If you bought at 38 and sold at 35, I did not win at 35 because now the stock is worth 31.
Facemuck. It seems there's a zucker born every HFT nano-second these days.
Isn't facebook like a minor 'App' on iThingys?
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.
I would margin up if I were you.
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 ....
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?
What's good for Facebook is good for America?
Million Dollar Bonuses... Easy come easy go!
You can't eat Facebook.
Why don't you just wait for it to drop to $3.80 and buy 3000 shares.
I think you've been buying in excrementally, not incrementally.
"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.
He's going to be even poorer when he sells his Failbook stock @ $2 a share.
It might rebound when it reaches 6,66
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.
ori
smorgasboard
Bono is a friend of the Bill and Melinda Gates foundation making him just another globalist scumbag.
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.
ori
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.
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.
ori
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.
ORI,
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.
GG, thanks for that fascinating insight.
Sounds a bit like India. Nto quite the postage stamp though! :-)
ori
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.
And that very odd handshake shown. Hmmmmm.... Very "illuminating."
Holy shit MDB...that's hilarious!
I wish I was on the other side of that trade.
Selling your $45 FB shares to MDB for $38?
MDB you are the best! LMFAO!!!!
Thanks
Keep 'em up. : )
K @
Spam! Spam! Spam! Spam! Lovely spam! Wonderful spam! Spam spa-a-a-a-a-am spam spa-a-a-a-a-am spam. Lovely spam! Lovely spam! Lovely spam! Lovely spam! Spam spam spam spam!
discount! hahahahaha
MDB, you are one funny guy.
MDB is the American Whale!
Yeah! How did "Dollar-Cost Averaging" work in 2000? (e.g. CSCO from $80 to $8.00; Yahoo from $250 to <$10; AMZN, etc.) Another name for it is "Stair Steps To Financial Hell".
Someone that good at catching falling knives ought to get a job with the circus...
ROTFLMAO!!!
Thanks for the comic relief!!
(PS can you ask Hairy Wanker if he traded his mother for a solar panel from Leo yet?)
I dub you Major Kong
http://www.youtube.com/watch?v=wcW_Ygs6hm0
as your fate is the same
Ok, you're an idiot. Yeah and you must of "top ticked" it on Friday, yes? Good luck though becasue none of us want to lose money, especially in a willful manner.
Hahahahahahahahahaha!
Your buddy Biderman is all-in too, says Facebook worth $1 trillion EASY! Introducing Biderman's Market Picks: Facebook Could be $1 Trillion Stock - YouTube
SD-1... that was a nasty call on Charlie's part. Downright nasty. But I read an article in the NYT (or WSJ) about 2 years ago (when the big guys bought their shares at $2.00) that Facebomb could be worth $1 TRILLION... absolutely absurd but thats the world of snake oil sales!!
SheepDog-One, you just punctured my balloon in that, in the past, I enjoyed most of Biderman's comments. After watching the video and his prognostication(s), I am somewhat stunned and depressed, as now, I think the guy is an idiot when it comes to some basic economic principals such as cost barriers to enter an area of business. To duplicate IBM or Apple from the ground up would be nigh impossible...to duplicate FadeBook or MySpace requires a teenager with terminal acne and a laptop. What the hell is Biderman smoking? I think some of that 420 friendly air is drifting over the bridge.
Teenagers in their basement can own $750 million server complexes? Sure, someone can make a new social networking site, but without funding or income, cannot pay for the hardware needed.
Basically, the main constraint is rate of growth of the service. How many more social networking sites are people going to invest venture capital into? I suppose there is no barrier to entry, but only to growing big.
They can use Amazon's cloud for a lot cheaper than you think. The barriers of entry are lower than in the past.
LOL! There you are, you little douche!
ANOTHER 300 shares? Awwwww...good fer you.......go on....catch that falling dagger.....
My advice......keep buying all the way down.
When it gets to 10 bucks for the turkey, go all in, just like Vegas!
Dollar cost averging.....who'd you learn that from? A circa 1994 Putnam hot sheet?
LMAO!
Soon, your million dollars will be reduced to a million pennies - if that.
No bonus for you!
Facebook appears to emblematic of the entire market: without a real or convincingly implied backstop bid, it's just going to drift lower, and lower, and lower. Of course, we can expect the occasional sharp pullback similar to what we have in stocks today, but when the tide turns back down FB could be swept even further away with it.
What do they really have to sell except your privacy?
MDB, do you get Farmville credits for your purchase? FB should start including game credits and virtual monies for purchases of stock.
Actually, that might help them. Seriously. You stockholders should demand dividends in virtual gaming money.
LOL
sell your winning shares in C, BAC, JPM and DOUBLE-QUINTUPLE-DOWN your bet! You need another 3000 shares of Facebook now, this one's going to the moon!
supa-STAHHHHHHHHH
All depends on whether it joins the list of "chosen ones" held by Sack. Ever wonder why no matter what happens turds like AMZN, GS, and BAC continue to float on thin air??? Sack has declared these issues and others (obviously AAPL, IBM, MCD, and others) important to market sentiment and hopium flow so they won't go down until the whole market forces them down.
Zucker = sugar
sucker = small lolypop
Berg as in Ice and the shareholders just hit it!
Rock crushes scissors, scissors cut paper, and paper burns. Burn, baby, burn.
To all the POS that brought FB to the market...welcome to the America of your making. You've broken the middle class, you've crashed housing, you've outsourced employment and brought in overseas talent to take up the rest, 40MM+ on foodstamps...yet your roll out your trash into the market and you are amazed that the fucking muppets aren't lined up buying it. You are stupid fucks sitting in front of a burning World Trade Tower that was hit by an airplane of your making trying to hawk New York City souveniers. Fuck all of you.
Im pretty sure the 29th of this month. I've never shorted a stock, but I think this is going to be the one to pop my cherry.
They will be putting out 50% more stock in a few weeks, then another 50% after that. They are so fucked.
Source
Shorting is tons of fun, especially pigs such as this one. Gonna be hard as hell to borrow, tho, as almost everyone else will be trying the same thing.
Which kinda reminds me... What's our buddy Cramer's recommendation on this stock? Buy-buy-buy?
options, options, options...
Pure Snake Oil!
"theres a sucker born every miniute"
remember the up tick rule, and the half dozen other piece of shit rules that the powers that be placed on shorting shares.
Buy 25k of shares and write some options.
enough about FB...why is everyone ingnoring GM and they're cancelling of super bowl ads and such, looks like another sign of the times eh
I agree, Government motors has been a much better short and probably still is right now (same for all the big banks).
CFD with CMC markets works well..
ZHedge has a huge hard on for Facebook, honestly--who cares?
you clicked the link and posted a comment... you, I suppose :-)
It's certainly newsworthy... the IPO that was going to save the market... the tax revenue that is going to save California... the intreague around the possible CIA connections, etc. etc. etc. I find that last part fascinating... along with one of the threads yesterday about codifying propaganda. I think about the facebook movie... I didn't see it... so my opinion could be way off the mark, but how many motion pictures get made glorifying a company with possible CIA ties, as that company get ready to go public? And it was up for Best Picture (maybe it won?). What a campaign.
+1Kridkrid, your the first one to take notice of the movie "Social network" connection
I don't really go to the movies anymore (more a function of having kids than any sort of protest... I do still enjoy going... just don't have much of chance) but I remember thinking, when the movie came out, that it seemed a little odd. Looking back, I didn't think too hard about it... gave it a kind of cursury, "that's an odd subject for a movie" and moved on. I had no interest in seeing it, so it didn't really have much of an impact either way.
But now looking back, it seems especially odd. I kind of want to see it now... is the subject matter really that captivating? Does it merit a motion picture instead of some sort of CNBC one hour special (also propaganda, obviously, but to a slightly different audience)? Throw in facebooks role in things like the Arab Spring, it all becomes fairly interesting.
http://movies.yahoo.com/movie/the-social-network/
sawit sucked, its been playing on starz cable (PTB media) for about half a year it seems appropriate that Zukerberg is played by that guy from Zombie land
It's called "schadenfreude" after all the pre-IPO hype. Schadenfreude. Try it, it's tasty.
the simpler answers are always better. Schadenfreude is all I have left.
-Stockenfreude- (n) That feeling you get after months of non stop hype and hysteria only to see the thing that was claimed to be 'Our Saviour' fall flat on its face.
sung best by GNR "all our heroes were born to lose".
Fire does have a certain fascination to it.
We do, if you don't like it well then you can pack ur shit and go somewhere else. As for the rest of us I find it halarious what is happening, and sad at the same time. Another fleecing of the people this was, and it is up to independant financial news media like ZH to expose the scam that is the markets of today and Facebook was a prime example of this. Over-hyped, over-sold bullshit to the masses to once again get fleeced, if you don't care thats fine but some of us do.
That's so more important people than us can make money out of it at this time and when the CFD's etc. come online, all the action will be over. Anyone with half a brain could have seen this immediate fall in value. It was just set up to make the rich richer as they all piled into selling in minute 1 having bought their stakes months ago. No doubt that gave Bono a boner.
ZuckerZined, "Beach-Ass"!
Zucker; (Sucker), eg: 'one born every minute', also: 'one who purchases overpriced shares of worthless companies';
Zined; (orig, 'Corzined'), eg: 'to have ones money disappear in a flash of smoke, ie vaporized';
Used in a sentence: That fool that bought that overpriced, hyped-up facebook crap IPO is about to be
ZUCKERZINED!
hehe.... I zuckerd your ass. 100 Billion worth....haha
the FB frefall continues, it just broke 31....
Can't short it, there is a glitch in the Nasdaq system.
I'm betting Zuckerman beat you to the short.
Hahahahahahahahahahahaha!
I am also going all in on Pets.com, I think they are a real winner.
Bought 102,000 shares at $31.05
Sold 102,000 shares at $32.12
Day's work completed.
I have a bid in at 0.0001 for 100 shares. I'm hoping to double my investment!
in your face book!
Go Zuck! Go! Sure you can! You SOB.
Come on guys, Myspace is still doing pretty good, ain't it?
Facefuck is going to $25
thats not bad, a good facefuck usally costs 150.00
I think you can buy a bit here for a trade. Sell a little Apple against it this morning. Day trade.
Hmmmm, and why are there ballistic mutual fund outflows from retail investors week after week after week?
Fuck you bank assholes...game over!
Smash them !!!
.
And that Steve Wozniak suggested us to buy at whatever price.
He also thought Windows Phone 7 was a great phone, he's clearly losing it...
I shall hence-forth name that stock the "stock-that-sall-not-be-named" (typo and all) Really hate being reminded of that website time and time again. Yuck.
Damn it! Tyler already corrected the type. Oh well.
Agreed - what a hideous contraption.
Too funny.
Whoever thought Parcheezi could be so sexy?
Caroline Munro... Meow!
Somebody help me with this.
Who cares?
They had an IPO, some folks bought at the start price and sold and made money. Some bought and sold and lost money. The stock is now lower.
Who cares? Why is this such headline news?
A sign of the times
Why are you on the site if you don't care what happens in the world and markets? Maybe you should check out Angry Video Game Nerd on Youtube, its got some funny stuff that's probably more your speed...
Bizarre post. I post that I don't understand why the FB IPO is that relevant, and you reply with "FI doesn't care about the world." Bizarre.
I follow ZH because it provides commentary on the economic condition of the world that you can't get in the MSM. I'm a lot less concerned with the ups and downs of equity markets than most, I'd guess. The direction is all down, I knew that before ZH. What ZH does is give me the guided tour of the path we're taking, ahead of when we're taking it.
This IPO offering IS a commentary on our markets, and our society as a whole. Its a rigged fucking mess that is all back firing.
To understand this market is to understand this bullshit IPO, bullshit company, and bullshit underwriters.
FB happens to be the most hyped con game in a counterfit market that backfired on TPTB to date dick weed.
Now go home!
I think you're projecting, FrankIvy. You are in good company here by not caring about Facebook. However, just because you and lots of people on ZH don't think it's valuable doesn't mean it's not being portrayed that way by folks looking to cash in on its popularity. The Facebook situation is a microcosm of broken markets and Internet company bubbles; it's a reminder that "the market" actually isn't one anymore; the stock market exists to make certain players rich, and it ain't you nor me.
Yeah, but, that was obvious in 1999. And several times since. The stock market is an insider game. That's news?
You can kindly walk over to the 500 Greece & Gold articles if you like
FrankIvy,
Because it represents a multitude of points that Tyler and ZH guest posters have be preaching for years on all that's wrong with the system. If you read more and dig a little deeper mentally, you would see this.
I need to "dig deeper mentally" to see this? Why can't somebody just spell it out? ZH's point for the years I've been reading, fundamentally, is that the economic system is unsustainable and rigged by and for bankers and elite interests.
Not sure how FB IPO price exceeding current price makes any of that more or less true.
I'll spell it out: It provides a poignant anecdotal picture of the sham that our markets are today. It's that simple. Take a deep breath, it'll pass as another poignant anecdotal vision appears on the horizon.
FrankIvy
MDB is that you?
Because it is a very large example, of how the system is so perverted. You have the smartest guys on the street working on the deal of the year (2nd largest IPO in history), and look at the outcome. It is interesting news because we still don't know if the MS greenshoe is exhausted or MS is making a killing now. It is interesting because the price might not stabilize at 30, it might go to 20, or? It is interesting because it really is the beginning of the story, there are months ahead where a lot of stock will hit the market. It is interesting because Facebook really did do something amazing, get 1 billion (less the fakes and duplicate) users in what really is a short amount of time, and now the metamorphasis begins as the company will come under immense pressure to grow (and maybe even sustain) profits.
I'll tell you why it's important. FB tanking might very well be the nail in the coffin for retail investor participation in this rigged market. Volume may never come back and we are inching ever closer to the mother of all crashes.
Yeah but, it might just be an overvalued stock losing value. You're telling me that this is a big deal because? Because it may signal a market crash? Is that the sum of it?
I said this above....
It's certainly newsworthy... the IPO that was going to save the market... the tax revenue that is going to save California... the intreague around the possible CIA connections, etc. etc. etc. I find that last part fascinating... along with one of the threads yesterday about codifying propaganda. I think about the facebook movie... I didn't see it... so my opinion could be way off the mark, but how many motion pictures get made glorifying a company with possible CIA ties, as that company get ready to go public? And it was up for Best Picture (maybe it won?). What a campaign.
Facebook's crash at some point will be a symbol.
FrankIvy
Are you not reading the replies your getting?
Listen up PoisonIvy... Get you head out of the WSJ and keep reading ZH until you can answer your own question. Until then stop posting.
I like it. Thanks for the spanking. Fortunately, I only needed to read the couple posts below yours to fulfill your demand!
Glad I could help.
I maintain my WSJ and IBD subscriptions for two reasons. 1) I get both free through company retirement "perk package" 2) Reading both is almost as funny as reading a comic book or the National Enquirer... and well, maybe three reasons 3) I use them as shredded paper in the stables.
Wall Street Criminal Syndicate=Wile E. Coyote
Retail Investor=Roadrunner
CNBC=Squiggly gray road leading Roadrunner to the box and string.
Facebook=Acme Roadrunner treats.
Morgan Stanley=Helped Wile E. pull the string
Anvil=Roadrunner seeing this whole shitty plan blow up in Wile E.'s face.
Zerohedgers=Kids sitting in front of the TV on Saturday morning eating pop tarts.
(Paging William Banzai)
So the FB IPO was set up by MS in a manner that fooled retail investors into buying the stock at an elevated price?
That's it?
That's criminal?
A bunch of idiot retail investors who have watched stocks beat the crap out of Mom and Pops since at least 1999 buy FB and lose money and this is big news because FB owners and bankers made money.
Because it may start a market run.
I think a lot of you are masturbating while believing you're having sex.
>>"So the FB IPO was set up by MS in a manner that fooled retail investors into buying the stock at an elevated price?
That's it?
That's criminal?"<<
ROTFLMAO!! What rock did you just crawl out of? Or are you one of the cybernetic propaganda organisms created by NASA?
You're asking if that's criminal or telling us? LMAO!!! You answered your own questions...
Enjoy the show!! LMAO
The clock is ticking!!
actually, FrankIvy may be Zucker's new wife (or mom) trying to squelch any bad news about Facebook
You might want to look up at the top right hand corner of this page and read the slogan for this site. Don't you think an accelerated drop in a brand new listed stock of a very overvalued company fits the mantra?
Fox and MSNBC have great MSM reporting, if that is what you think is "news".
Gotta luve those fucktards over at CNBS..closing all comments on FB blogs...pumping up the stock in the days leading up to it..mentioning zuckers b-day about 100 times on air 2 monday ago.......the media is complicient in this......
how long until they pull the ipo and the lawsuits start....3.....2.......1
All FB pumpers in particular CNBC and Bloom 'personalities' should be charged with securities fraud.
Well I guess this proves that the Analyst and Investment Banks don't talk to eachother. Seems like a win for the chinese firewall....
Sounds like some central banks need to step in...
Facebook is TBTF. If people can't have their Facebook, they'll be out on the streets questioning Uncle Scam. That can't be allowed to happen.
Must. Keep. Muppets. Attention. Diverted.
Revenue down? How do you get teenagers and college kids to buy something advertised on FB or to pay for the service. 900 million users means nothing if only a small % actually have money.
The math just dont add up.