This page has been archived and commenting is disabled.
A $29 handle and elevated volume. Chart still shows distinct support level at zero. Time to flip coins.
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Bombs Away!
Holy Fuckinh Shit!! WTF happened to the Bull Run? A Bear Smash&Grab?
Time for me to build that silo on my farmville farm, bitchez!
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.
Facebook should look into plastic surgery.
I guess Project Buffy won't save them. The hubris of Zuckerberg is Facebook's biggest liability.
http://www.informationweek.com/news/mobility/smart_phones/240001086
FB is worth $6.00/share, max.
Bet we should think of chipping in donations for this guy (the live one, NOT the cannibal!)
Use this coin, Tyler...keep the change.
http://conalldempsey.com/wp-content/uploads/2010/01/rupee_one.jpg
$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
A return to $38 in order for this chap to be made whole...
...a pipe dream indeed !
<--------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
just clicked on another...he he he
Is that the one with horseface?
I'm going long Pawn Shops International.
I get ads for lube jobs and underwear. I stopped wearing women's underwear years ago.
Good for you. How are the fishnets working out though?
not good. All the tuna is radioactive.
Now YOU have a friend in the lube bidness! :>D
Now YOU have a friend in the lube bidness! :>D
[EDIT:] Oops!
Holy Fuckinh Shit!! WTF happened to the Bull Run? A Bear smash and Grab?
SUCKERS
buying into a multi billion dollar digital phone book
Facebook = front for CIA = Frenetic Buttpoundings
Any bets on how long before Zuckerberg is publically demonized
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.
LOL
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.
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.
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.
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.
Yes - if only he would respect privacy just a bit more, he could then be appointed King.
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?
Facebook FAQ.
You know that info is all still going to be sitting on a NSA data center though.
This link will make a great Facebook post when I get home.
Government already has archived everything, so why bother?
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!
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!
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
With pictures! And a digital farm!
Hey I just found out FB is thinking about co-branding & buying out .99 Cent Stores.
What happens when they re-name them $1.99 stores due to Quantitative Easing?
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.
Are bailed out banks buying $FB shares with our money??
It would not surprise you based on some of their previous decisions...
Bullish for yawning.
Bullish for shorting.
I'm having a bully day!!
Well bully for you ;)
It's all Egan Jones' fault! We should investigate them!
Still wayyyyy above the cost basis for the pigmen...
"Time to flip coins."
Heads I win. Tails you lose.
PPT on sabbatical leave?
Welp, just another 27 or so more to go till it's at a proper valuation
http://blogs.wsj.com/emergingeurope/2012/05/29/russian-social-network-ca...
pizdetz!
v nature, blia!
Cap'n Slack: $28 and damn the torpedoes
I can't wait to see a $28 handle on this turd.
(updated from the earlier post...I have a feeling I'll be saying "$27 handle" by the end of the day...not sure why I'm getting so much joy out of this, but I am)
I'm with you, and I know exactly why I'm getting so much joy from it. I bought June $29 puts this morning. Hell, yeah.
MillionDollarBonus, you lucky SOB...your Dollar Cost Averaging Plan is working like a finely-oiled machine; or is it Vaseline; or KY Jelly?
Astroglide.
A tub of Crisco....from Dollar Tree.....
when market cap is calculated for a company like FB, does it account for only traded shares or all shares?
i.e. Google lists FB's market cap right now as 63B. Is the account for all shares public and private?
when market cap is calculated for a company like FB, does it account for only traded shares or all shares?
i.e. Google lists FB's market cap right now as 63B. Is the account for all shares public and private?
That would be imputed value, so would include shares held privately and not traded. Total rubbish of course!
Looks like the junk fairy has been working overtime in this thread. Every post gets a junk.
I guess he has to do something else besides sucking his thumb today...
Heavy volume, bleeding red, gonna need FacePads
FampOns.
That's gonna leave a mark...
Payday coming up.... another opportunity to btfd!
Maybe wait for gold to break 1500?
What a circle jerk....all these trumped up techie type ideas turned into massive IPO'd companies buying each other and paying each other for advertising each other.
cant go any lower.......... ???
If you liked Facebook at $40 you should love it at $29 ............. ???
Strong support at $0 ............ ???
It's all the speculators fault .......... ???
I deleted my account on Facebook, but I hope some of the assholes I know on there from high school and college bought this stock.
I will load up on FB right at support level advised here.
I wonder if sentiment will be positive when it touches the support level.
I am $.28 bid on 100 shares!
Too funny!! Let us know when you get filled.
Of course, I expect a big rally in FB late today.
Eat it Margin Stanley...eat it.
I gotta say I'm proud of Zuck. The guy did almost nothing to hype the IPO and then fucked off to Europe on his honeymoon. Good for him. He doesn't give a shit if the stock price is 40 or 15 dollars a share. It's still billions for him.
I really like that wall street just got fucked. Think about all those Ibankers with no fucking future. Oh the scheudenfreude is delicious.
You're right in one thing. He doesn't give a shit. Just like he never gave a shit. This was a setup from Day 1. Going public in the worst possible way has always been Zuck's exit strategy.
Now we know what will be included in the next FED action : monetization of "select" stocks !! After all the CONfidence must be maintained !
California must be in a state of shock
I see Highway 101 from my office window...
Traffic has stopped... people are crying in the middle of the freeway...
All is lost...
From rags to riches.........to rags.
Such a shame.
Yes, a pity...the expected result, though, when Horatio Alger goes "all-in" Social Media.
i cannot wait for California to go to toilet after this.
SCalpers must be losing hair over this.
None left. The Californicles are dried up.
Superb.
All these people losing their a**es on FB will be deducting the loss from their 2012 California Taxes.
Where are the media articles on this? Or does this not fit the CURRENT ACCEPTED TRUTH?
Correction: California is in a state of schlock.
the bottom is in folks.. $29,27 is the 666 ES march 09 low
On a long enough timeline the price of all stocks drops to zero. In the case of Facebook, it's looking like that timeline may be very short.
BNN had this woman on who said to buy FB options as the trades of FB were UP and down 5-10%. So I guess she is saying you can trade the options and make money. I think she should have been cut off the second she said FB shares were trading up.
Edit; I forgot to mention she had a price target for FB of $40 a share. I didn't see her or catch the name but I thought she was an Abby or Elaine clone.
FB is at $29.48 right now. I would not be surprised to see the S&P hit 1160 by late summer!
seal the hatches!!! Dive!!!! Dive!!!! Dive!!!!
where's bob 'off the lows' pissani when you need him?
Is there any way to search all FB posts to see how many users bought shares in the initial IPO?
Are the algos posting using fake FB accounts?
I nominate Facebook for the next Broadway staging of Phantom Of The Opera. This is the ugliest face I've seen on an IPO in a long time.
Arn't stocks supposed to go up over lunch on low volume?
Thats only technical support at zero, pay no attention.
and i'm freeeeee!!!!!! freee-faaaalllinng!!!!!
from Santa Monica Blvd.
Let's start a rumor to get the train going again: How 'bout this: FOMC Chair B Bernanke, Tres. Sec. Timmy G., the Pres O and HPQ Pres. Meg Witman are collaborating on QE 5 as we speak, where the Treasury will issue special HP printers to anyone with a pulse so that the money may more quickly trickle down to the consumer to help prop up SPX, which will (for sure) result in a positive feedback loop due to the overwelmingequity wealth effect; FB might possibly be used as the portal for the printing application, which in-turn will punish all of those evil FB shorts--that should do it, as the herd is probably dumb enough to believe it.
So FB would become the 14th primary dealer? or do we need to kick some of the existing PD's out first to make room? I had an idea 'bout de-hypothecating the EUR-FED swaps and buying out one or more of the euro shareholders.
FB is up $0.20 from the last time I looked at it.
I guess the algos already picked up on this rumor...
Sheeple continue to get Zucked.
Microsoft buyout at $1 a share could push it to $2 a ahare.
And not one word from Facebook management about any of this. Suddenly silence. Not a good sign of a company in control of it's destiny, especially one so dependent on public support.
Maybe they're working on a new forward financial strategy. You know, one which now accounts for the fact that they will never ever again be able to raise one more nickel in the equity markets.
The company doesn't have to comment on the ebb and flow of their stock, hence the radio silence on their part. It's not a "scandal" yet, as far as we know. Thus, nothing to deny, justify or clarify.
The IPO was just mispriced with way too much hype added in for good measure. And of course, the bankers got paid.
The stock should get halted soon. That's when the fireworks really start.
EDIT: Who am I kidding????
Facebook management too busy counting their money from selling at $41 a share.
Let the Faceblame game begin!
In case you didn't notice, there are some crazy option trades go on where you can make 25% today. Do this for 4 days straight and that's 100% return in less than a week. Ironically, this big money making on the options side isn't even a bubble, because it's trading on the merits of an underlying bubble stock.
So that's what the guest on BNN was talking about. Trade the FB options and get rich.
Facebook started its descent into the myspace abyss about 6 months ago. If you want the inside scoop on FB, talk to the majority of its users, teenagers. I did and here is some of the feedback I got from them...Don't go there anymore, same old shit different day, sick of seeing dressed up people trying to be somebody their not, nothing but a place to gossip, I'm sick of people I don't like trying to talk to me, ect,ect,ect... One girl said she has over 1500 friends and 6 months ago there would be at least a minimum of 400 on chat at any given time. Now she says there may be 50 at any given time and the numbers are dropping. I was also surprised and impressed how many of them said they didn't want the Government spying on them? Meanwhile as I was talking to these teens, most of which were my kids friends, 3 parks patrolmen and 2 sheriffs were going from car to truck and table to table harassing everybody and trying to find anything they could. One sheriff just walked up to the truck next to me and just looked at the kids in the back and said, How much have you had to drink today? They said nothing and he proceeded to open their truck door and start to rummage through the inside without permission. WTF? It was like a constant checkpoint anywhere you went. At the other Marina the Sheriffs were lined up at the boat launch interrogating every boat owner as they pulled them out of the water. I know they say it's all in the interst of public safety? RIGHT, what I witnessed was in the interest of control and money. They must of had a large quota to fill from Brown's office over the weekend as to how many more people they could get into the system and how much money they could generate. So there you have it, people post fun times at the lake on facebook and the possi just seems to show up everywhere you go to have fun these days and act like everybody is guilty of something until proven innocent.
House parties that are advertised on FB get crashed by the cops each and every time.
People lost their jobs because their employer kept track of them on FB.
FB is a crock of shit.
It took a few years for sheeple to figure out that keeping private is about the only privilege we have left. Government is intrusive and overreaching and strapped us bare of pretty much all other privileges.
What I don't post, THEY don't know. Same for phone calls and emails. Just assume that government is listening and reading everything you say, write or post.
Meet your friends in private, face to face. Make sure they turn their cell phones off.
DISCONNECT from the grid.
"What I don't post, THEY don't know......"
U do realize by posting this, that now they're gonna send someone to physically follow U everywhere. Now don't get paranoid.
(Man, this thread turned out to be pretty damn ironically funny.)
Bloomberg/ CNBC/ FBN was the HYPE machine
This was all planned. Today at 3:00 PM it will go to $50.00 a share.
25% of the IPO went to retail, which is to say parents of 13 year olds trying to sock away a sure winner for little Zoe's education.
It is my understanding that Morgan Stanley has forwarded the list of their names to the Conference Board and the University of Michigan, where they will be put on the National Don't Call List.
Wall Street ran out of suckers so now it is eating its own tail.
lol... sign of the times, may be.
Bloomberg TV had segments on FB rolling out a cell phone and their "expert" analysts were saying how any news for them at this point and all I am thinking is WRONG!!! Unless Zuck is planning on stealing someone else's cell phone, there is 0% chance of FB developing, producing, and selling their own cell phone.
Tomorrow the news will be that FB is developing a cure against obesity. The day after tomorrow the news will be that FB has found vast oil deposits in Africa. A few days later, FB is reverse merging into a gold miner on Mars. LOL
Zuck, call me. We can do this thing. You got my number. LOL.
Question: Are all FB employees able to dump all their shares at this point? Or, is there any limited locks on their ability to dump all their shares?
Wow, FB = -7.xx%. Catching up to silver smack down Feb 29th at -8.xx%...
Update: LMAO Never mind. -8.65% and falling fast!
This is one hell of a Face Zap! People who bought this will need a bailout. I hope crafty Ben is firing up his chopper to rescue the Zuckerburger economy.
Remember the Silver Bears.. THEY'RE BACK.. this time talking about Facebook.
there is some sinister manipulation going on in the stock price by the Jews at JPM.. The Silver Bears have all the details!
That chart looks like price is still beng supported - stairway to hell.
The strategy could very well be to suck in the shorts and then hyperdrive this m'fer into orbit and create a gigantic short covering frenzy. There was so much hype going into this thing, now the short interest is all hyped up again. It would just make sense considering the players involved.
We shall see. Watch out for 29.00 though.
It's fun to watch. Either way. Would I bet just one Dollar on this pig? No freakin' way. Need my powder dry for $25/oz and $20/oz Silver. One can dream, right?
http://www.youtube.com/watch?v=1ytCEuuW2_A
Keep an eye on the Opera story. OPESF being rumored in the context of FB and their shares up. Volume is crap though. WTF is this and why is the next potential FB takeover trading on the pinks, not reporting? Are they making anything of value or is it all fluff like "Instagram"?
Demise?
This 8 year old company has a market cap of $68 billion. The only demise going on is with the morons who thought it was worth $100 billion or greater.
Suckerberg + Co. cashed out billions. The rest is just play money.
This zucks.
MS just priced it too high, or IPO'd with too many shares, or both. At the number of shares issued, Fazebook should have priced around 30 or so.
It's a buy if it reaches low 20s.
Serial junker on the loose.