Facebook Down Most In Week, Under $30 On Heavy Volume

Tyler Durden's picture

A $29 handle and elevated volume. Chart still shows distinct support level at zero. Time to flip coins.

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rajat_bhatia's picture

Holy Fuckinh Shit!! WTF happened to the Bull Run? A Bear Smash&Grab?

Killtruck's picture

Time for me to build that silo on my farmville farm, bitchez!

derek_vineyard's picture

All the hype and media about Facebook is just hastening its demise.  Those using social media heavily were already searching for the next cool thing and that demographic really doesn't like their social media tied to Morgan Stanley, CNBC and financial news.

AlaricBalth's picture

$23 Billion in market cap up in smoke!! Spot on WB!!!

Where is MDB? I have that FB class action suit retention agreement for you.  Just send my referral fee to http://www.zerohedge.com/donate

http://www.rgrdlaw.com/pp/cases-963.pdf

Jay Gould Esq.'s picture

A return to $38 in order for this chap to be made whole...

 

...a pipe dream indeed !

Dr. Engali's picture

       <--------entered the "New York Night with the President and First Lady" contest.

      <------- Likes to click on the adds to make Obummer pay for the privilege of advertising on the hedge

jayman21's picture

just clicked on another...he he he

TrainWreck1's picture

Is that the one with horseface?

The Big Ching-aso's picture

 

 

I'm going long Pawn Shops International.

rajat_bhatia's picture

Holy Fuckinh Shit!! WTF happened to the Bull Run? A Bear smash and Grab?

The Fonz...before shark jump's picture

SUCKERS

 

buying into a multi billion dollar digital phone book

eclectic syncretist's picture

Facebook = front for CIA = Frenetic Buttpoundings

Any bets on how long before Zuckerberg is publically demonized

BlueCollaredOne's picture

Zuckerberg did nothing wrong, he didn't choose the stocks value.  He's still a douchebag, but anyone that bought this shit deserves to ass their ass handed to them. 

That being said people are idiots and instead of taking responsibility for not researching Facebooks ridiculous overvaluation they will probably start to blame Zuckerberg.  It's human nature to try and place blame on one person, when the entire system is usually the culprit. 

walküre's picture

LOL

Zuckerberg did nothing wrong

Nah, he just happened to be the lousiest CEO of the biggest IPO flop in the history of the stock market. He also happened to sell 30+ million shares on the first day of trading just because. That's 30+ million shares sold on opening day. Probably more when we find out that he had shares distributed among "friends and family" and deposited in offshore accounts.

He did nothing wrong, because that's how it's done all day and night long. Welcome to Fraud Street.

 

pashley1411's picture

Probably first marital act with Priscilla was she grabbing him by the hair and screamed "Sell some shares you stupid geek!!".

 

Advice easily worth the price of the wedding.

Doña K's picture

You left something out:

"Sell some shares you stupid geek!!". Soon you gonna need me to get you to China and renounce your US citizenship.

 

BlueCollaredOne's picture

So you place the blame on him, not the underwriters?  Once again it is not his responsibility to come up with a proper valuation of his company, thats why he hired MS.  One also has to place blame on the cheerleaders at WSJ, MSNBC, CNBS, etc.

Yes, he sold 30million shares on the first day, but not "just because".  It was to cover his new taxes that he will be hit with.  That equated to around a 1.3 billion dollar sale, which is less than 5% of his overall stake. Do you blame him? He knows first hand that his company isnt worth what it was listed at.  Was he supposed to hold a press conference and say "Dear America, Morgan Stanley is in the process of creating another pump and dump scheme.  Dont buy our stock.  Thank you."

I still think hes a fuck because of the way he rapes users privacy, but I think we need to place blame on the bankers/talking heads for the hilarious IPO.

 

Spastica Rex's picture

Yes - if only he would respect privacy just a bit more, he could then be appointed King.

Doña K's picture

My daughter tells me that there is no way to delete all from Facebook and check out. You can only deactivate and if you re-sign in everything is still there.

I wonder if you just have to start deleting all you posts photos and friends first and maybe change your email address and give up the old one.

Anyone knows the ins and outs? 

BlueCollaredOne's picture

Facebook FAQ.

You know that info is all still going to be sitting on a NSA data center though. 

Screwball's picture

This link will make a great Facebook post when I get home.

ThisIsBob's picture

Government already has archived everything, so why bother?

Lore's picture

Um...

"I still think hes a fuck because of the way he rapes users privacy..."

Nobody FORCES the sheep to register.

"Do you blame him?"

It's his company!

 

walküre's picture

I'm not his accountant so I guess I have to take his word for it.

Darn, I wish I could sell some stock each and every time my 1.3 billion Dollar tax bill comes due! It's a pain, ya know!

jmc8888's picture

It's amazing people forget the bigger picture, I'm not singling you out, just overall people are missing the forrest from the trees.

I knew he was Wall Street's golden boy back in 2006 (at the latest).  He's been their up and coming face man for the masses since they annointed him.  His entire 'making' was a project for Wall Street, and the most fraudulent parts of it.

So yeah, I blame him.  Had he not bent over for the fraudsters in the beginning, he'd sure have a lot more credibility now in most people's eyes.  Instead he took the easy money all the way until the easy money could turn around and stroke the providers through this IPO.  This was his big payday and his payback to those that propped up this relatively worthless company for all these years.

People just don't get that without the support he got from the banksters, and all the media hype that comes with that, Facebook wouldn't be nearly as big as it was today.  Or maybe he would have cut his teeth the natural way and learned to swim.  Funny that he still hasn't, and with all this money, even though the ship is sinking, he's still going to be adding more weight to the ship with all these crappy ideas he's going to implement...phones...browsers...or the already idiotic instagram.  He didn't grow his company.  The banksters gave all the free press and funny money needed to get here.  These are all directions he allowed to happen.

They had a choice of how they wanted to proceed since inception. They decided to be in league with the banksters (amongst others) since the beginning, which allowed all this shit show to happen. So yeah it IS his fault.  He didn't have to have facebook buddy up with all the fraudsters. 

Now that he's paid, and the banksters are paid, reality starts setting in.  He allowed himself to be unrightfully pumped up.  Now the public takes the dump on him.  Pump and dump.  Brought to you by the banksters, allowed to by Sucker the whole way.  He's a whore just like the rest of them.  Maybe it was more about being naive, but in either case he should have known better. He didn't.  While I'm sure facebook will be around a while, the available cash should only decline from here, faster if he continues to make bonehead decisions like he has since the beginning.  Of course all for an idea that was redundant and really of no use to society.

Glass-Steagall

The Big Ching-aso's picture

 

 

Hey I just found out FB is thinking about co-branding & buying out .99 Cent Stores.

Long-John-Silver's picture

What happens when they re-name them $1.99 stores due to Quantitative Easing?

BlueCollaredOne's picture

It's already kinda happened.  Most "Dollar Tree" stores around my way don't have to many items that are still just a dollar.  They are still dirt cheap, but I remember as a kid that dollar store meant dollar store. 

Xibalba's picture

Are bailed out banks buying $FB shares with our money??

maximusplugis's picture

It would not surprise you based on some of their previous decisions... 

A Lunatic's picture

Bullish for yawning.

DeadFred's picture

It's all Egan Jones' fault! We should investigate them!

statlawyer's picture

Still wayyyyy above the cost basis for the pigmen...

Cognitive Dissonance's picture

"Time to flip coins."

Heads I win. Tails you lose.