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FadeBook Enters Bear Market; -20% From Highs
Facebook has officially entered bear market territory - down over 20% from its high print at $45 now with lows now at $33.05 today and 63mm shares trade so far today...
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Are they going to drain the grid again to prop it up?
Undo, undo, undo......DAMMIT.....UNDO!!!!!
Do over!!!
If you had only shorted Tenet last week you'd already be up more than 10%+.
Did I mention the P/E is still over 60!
LOL.
It's Black Wednesday this time folks. I feel it in muh bones. Dem Bones, Dem Bones.
Black Wednesday. Like Black Tuesday, only a day later.
ori
I`m waiting for a black June. Catastrophic trading days are yesterdays news, nowadays we get catasptrophic trading months.
I wonder how many retail buyers are going to try to DK their trades prior to Wednesday's settlement?
How many doo-overs does this get before it takes a real dump?
after toay's action, FB's PE is "down" to 75 ... gravity's a bitch
Drudgereport.com has officially bogarted the ZH "Fadebook" meme
Fadebook? What about Facemelt, Faceplant, Facethemusic, or any of the other punnerific nom de plumes this company can now shoulder? The sky's the limit (down)!
fadebook is the best
Do None of you have any compassion for Mrgan Stanley - OH the Humanity (cue Hindenburg going down)
LMAO!! Classic! Here is another....
MS SAYS MUST. DEFEND. $33.
MS SAYS NOT ENOUGH MUPPETS WERE "POKED," WILL TRY AGAIN SOON
33 is a magical number for these types. Not that it will do them any good. When that is breached, the torrent will be unleashed.
Geez. I think FaceFart just sharted red shoots.
Rather than admit their mistake, bobbing heads are trying to blame NASDAQ......
Eduardo Saverin right now must be singin' the Singapoor Blues.
Actually I thought we were speeding up to catastrophic nanoseconds.
My prediction for Blackest Thursday 10/25/12 remains.
It is based on a secret Mayan algo chanted while reading Edgar Cayce and calling upon Nostadamus by candle light.
...and I'm pretty sure I might be right...
No less fanciful than the "big bang" theory, or "evolution" and far more compelling than "we need taxes"
It's The Black Angels, Young Men Dead...
http://www.youtube.com/watch?v=hrSVJ_Gj-2M
"Black day in July"
"Black day in July"
Motor City madness, has swept the countryside.
Hey Tylers, can you keep calling Facebook "Fadebook?" That is the only way it gets by our web filter!
pods
I'd like to introduce you to the wonderful world of public proxy services and or openvpn.
It stops proxy access as well.
Does it block Cyrillic?
They/you think it does. There's always a way out. Run an rdp/vnc server on your box at home and openvpn on port 443, set up your openvpn client to use your work proxy as normal and connect, then use terminal services or vnc to get your home desktop.
Many thanks!
California dreamin' of a zero deficit is apparently thru them shorting this stock.
Do over and be a bigger flop. I miss the 90's.
'I miss the 90's.'
The 90's?! I think Fadebook just misses 38, let alone 42.
Mr Lennon Hendrix said:
Doo doo.......so over.
Hey, at least the IPO wiped out California's deficit, right?
There were some lucky people on Friday who accidentally "undid" their buy orders while the NASDAQ SNAFU was in full swing. Those guys avoided a tremendous loss.
We value fair value of FB at $2.15/share. Can't wait till FB puts are available.
I will buy some if $2.15.....ZH User should hehehehehehehehe
Did someone make the T-shirt yet?
"My ass got handed to my FACE"
My buddys friend jumped on it friday with 60k. Margin call bitchezz.
First you were corzined, now you get fuckerburned.
Is that anything like getting suckerberged?
MDB must be looking at his kids and telling them this is the sort of money you can make whilst you have a good strong Government and how it reflects on the financial market . America leading the world to places never seen before. I hope one day I to can be as wise as MDB.
MDB is a ZH "friend" and an inspired satirist...
I'm starting to fear Facebook may find fair value before the puts are available.
Did anyone notice how they removed the Farcebook charts from the front page of Yahoo finance? LMAO!!
I can guarantee you, if Failbook was UP from it's IPO, they would have plastered this everywhere as a sure signal of US GREEN SHOOTS recovery!! The GAME IS OVER!!
R.I.P FacePalm
Same way the Madrid stock exchange disappeared from their "Major World Indices" page. Poof It's gone!
The Dow Jones is no different. How many of the Thirty exist today that were the 401K favorite sons 20 years ago.
If you soil your pants the Dow Index just calls up another TBTF. Yesterdays Heroes are tomorrows Bucket shop slop.
now If I may be excused I must go and shear some sheep. Damned woolly bleaters keep growing It, so I must relieve them of their excess.
Signed Gods little helpers
Fucking love that e-trade baby!
I already have some silver bullion, how does anyone feel about MO? I'm thinking about cashing out and buy more bullion.
DAMMIT, I wanted to short this crap this morning, but I didn't have enough time to get a position opened before I had to get to work. Haha, I snoozed and I losed.... literally
Man, talk about manipulation and censorship... this is really suspicious.
I searched on Google for Facebook Share Price.. I got:
"Oops! Google Chrome could not connect to www.google.co.uk
Did you mean: www.google.com/search
Additional suggestions:However, when I search for anything else the search page starts throwing up suggestions before I have even typed the search terms. I tried 'RBS Share Price' and I got straight into the charts and commentary pages on Google Finance.So not only is Farcebook in control of your life, it also only lets you know the good news about its performance.I tried searching from a UK and a Spain web server and both timed out or said they would not connect using the phrase "Facebook Share Price"
that's wierd. when I type "FB" into google the top result is the stock ticker chart. Just enter ticker symbols rather than writing a sentence.
Probably. http://www.singledudetravel.com/2012/05/why-facebook-isnt-worth-100-bill...
From feast to famine in a (figurative) blink of the eye. Gotta love Facebook. It always sets the trend. :)
I think you might be more accurate than you think here...
Absolutely.. As a member of the Facebook community, I can't see it generating more money than it does now and decline is more probable than growth.. IMO
People are getting tired of it.. It's a trend.. It's nice to hop on every once in a while but that's it.. The minute they change things to make more add money, 50% will leave or at the very least, reduce their visitation by 80%.. Of course, i'm pulling those stats out of my ass, but they do come from interpreting the sentiment of the people I know..
"people are getting tired of it."
I wonder if that has anything to do with the fact that I don't care what the girl in the third row of my homeroom is having for dinner thirty years later.
Jesus Christ, that's so true. My high school reunion was the worst thing that ever happened to my fb account.
"I wonder if that has anything to do with the fact that I don't care what the girl in the third row of my homeroom is having for dinner thirty years later."
I found out the bitch still doesn't know my name.
I remember reading an article from 2 years ago that said Farcebook will easily be worth $1 TRILLION and they touted Farcebook as the savior, the new messiah of the stock market. They listed all the things this IPO was going to do for the US of A (like balance the whole f^*ing budget and make the entire state of California a millionaires oasis, to stopping world hunger and ending wars LOL) This is not the article I was thinking of but the same propaganda message is there for the sheep...
http://articles.businessinsider.com/2011-05-10/tech/29973347_1_amazon-gilt-groupe-business-insider
Now ironically, all ZH'ers knew Failboob would bomb and was not worth 1/10th of what the snake oil salesmen were saying but it looks to be that not only did FBomb flop, its an epic fail. One for the record books.... now which underwriter backed this up? LMAO!! Theres meat on them bones!!
As much as I wanted to short FB, I'll stick with my UVXY long for a while longer.
Mission Accomplished.
$38 was taken from all the slags and then put into FB owners pockets. Good for them. Enjoy.
Yeah, and now back to an arguable price in the 20's, post-shearing of the lambs.
Can you hear the lambs, Clarisse?
The lambs are silent... and Dimon has blood on has face.
There's at least one lamb left alive, standing captive in a muddy hole, screaming at the underwriters :;)
It seems to me that a whole lot of FB is stuck with the TBTF underwriters such as MS.. So Zuck gets his $38 minus spread, MS has a shitton of "collateral" to post at par at the next Maiden Lane bullshit for Fed $$$, and the taxpayer gets fucked that much deeper.
The Bernank will be happy to inventory FacePlant stock at par.
I "like".
Blodget says Facebook was priced perfectly.
Sure.
Priced perfectly to......
A) Give the impression to the suckers that this was gonna be another hot IPO
B) Which allowed the insiders to bail at the best price possible considering.
I would be interested to see what percentage of shares owned by insiders was allowed to be sold in the IPO. We understand that there is a lock up. My question is.....how much remains locked up and how much was sold with the IPO?
Version 666.666 of the Golden rule is.......get while the getting is good.
Doesn't matter how much is locked up. It should be relatively easy to structure a derivative that effectively cancels the lockup. This will cost maybe 1-2% in fees, one could do a swap-agreement with the stock price hedged by regular options. One gets the money Now, with no margin call in the future.
Should the bank designing such a deal get busted by the SEC for this (hahaha!), the eventual settlement will be at most 2% of the loot - which the shareholders will pay anyways. Certainly a bet worth taking.
Junked by Jamie
Or junked by Henry
Here's the OTHER BI stooge :
FACEBOOK BREAKS THE IPO PRICE - Business Insider
Joe Weisenthal, who wised up on friday...
Speaking of Blodget...
You can't make this shit up!!
http://finance.yahoo.com/blogs/daily-ticker/facebook-crashes-ipo-price-doesn-t-failure-150656450.html
LMAO!!
From the one that helped pumped AMZN when he worked at Merrill ...
And kicked start the net bubble... Isn't Blahgit banned from security trading?
The Greater Sucker Theory holds up nicely.
But showing major signs of reality hitting home as Facebomb failed to get the 75 EUROS ($100 USD) they threw out there in Euroland... They really wanted to pump this up to $100 on the first trading day... if they succeeded and it tanked a few days later, then I would say that the greater fool theory was alive an well...
Now we are watching the cannibalizing of WHORE STREET
PS... I posted on Friday about those other turds LNKD, GRPN, ZNGA YELP, etc etc etc and that they were all ripe for picking... all are down 5% or more today...LMAO
That $45 top-tick must have been MillionDollarBonus getting in "at any price". I wonder which one of the JPM prop traders sold short to him.
MDB should've bought his grandkids an ounce of silver
Now now, we must not 'poke' fun at others misfortune rotflmao mdb
...unless it's just really fucking hilarious.
Is doing the cabbage patch considered making fun? I just can't help myself...
Notice...we haven't heard from the turd lately....
margin call
'Notice...we haven't heard from the turd lately'
Why would turd comment on fb? He's got bigger things to ruminate on. Like when gold and silver is gonna recover and take off again, ect, etc...
I don't know about you guys but...
MS is starting to smell like a rotten corpse... now with the Facebomb failure, margin calls bitchezzz!!
thank you, tyler.
Congratulations, you've been ZUCKED.
the Twitter $FB schadenfreude is so fast and furious that the spambots are already all over it
I would like to friend anyone who bought FB at 45
...and borrow their shares for a little while? ;)
Hard lesson again: this is why short selling bans can't and dont work. There would be a floor to this when the short sellers cover. Instead you just get long exits.
$12bn misallocated now. Someone needs to be worried about the credibility of the equity markets as a vehicle for capital allocation right now.
I think the "credibility of the capital markets" ship has already sailed
Then it's left a lot of people at the dock because $25bn got funneled into this POS.
Not everyone got the memo.
Serves em right Catullus....I never get in between a fool trying to lose his money.
"already sailed" ?
Sank. The hull was made of derivatives.
'I think the "credibility of the capital markets" ship has already sailed'
I think that was the HMS Titanic. Or the Hindenberg. Couldn't tell from the fiery flash off in the distance. Yeah, dems the breaks.
Man, really? Equity markets for capital allocation? That's so retro, dude. Get down with the HFT/centrally planned bubbles/TBTF boys. That's where it's at now.
True. But it moves into a different world when Bill Gross' "return of capital" becomes the prime mover and not "return on capital".
Just saying. People can lie to themselves for a long time before the reality hits them.
That's some funny stuff right there! When you read textbooks on finance, that's what they say about why we have this perverse thing called stocks, right? It's about raising capital to fund expansion plans. Except that isn't even close to reality, is it? For most businesses, there is no growth unless they can edge out competitors and even with Failbook, there is a credibility problem with what it means to generate profits--they have the user base, but that doesn't necessarily convert to making real money, and what we really don't see is how an IPO could solve such a problem--you're raising cash, for...what? What can more cash do in the social media space? Buy more servers? Hire better programmers and designers? Hire a think tank to figure out a better monetization scheme?
How long until the lawsuits start and the pull the IPO.
Go baby. That's exactly how eTrade and everyone on Wall Street see us isn't it?
Facebook is only a face, a facade and they coerce us into buying it. Most owners of new Facebook shares don't even realize they just bought it on Friday, rather someone bought it for them. Investors accept being viewed as infants and faceless idiots. The whole construct has become one big sick pun of a joke.
I know of one person who knows exactly what is going to happen. Mark Zuckerburg. And based on what he did and didn't do over the weekend, you can see a whole different picture of what he thinks about his company. Unlike many big-time execs, Mark didn't run out and party his ass off. That could be just because he was raised with decent values. But he immediately got married! I know plenty of guys who made it big and dumped their wife/girlfriend because they suddenly had access to boatloads of supermodels. But Mark didn't do that. So yes, maybe he's a super romantic guy with solid family values. So that's perplexing because nobody in the top levels of the corporate world is that kind of person--they all work non-stop and pretty much ingore their families, have trophy wives, substance abuse problems, and so on. There's no room for "family values" in corporate fascism. My own conclusion based on Zuckerburg's behavior is that he knows his company is a farce and that he's never taken any of it seriously--hence the hooded sweatshirts and other informal attire and the backup plan of leading a normal life. It's all just a big game to him that may or may not play out in a way that leaves him incredibly wealthy. He knows the real truth about social media's ability to make money and it's not the rosy picture that the money people (the hookers and blow crowd) want it to be.
... or maybe he's just a kid who didn't see the freight train coming, mistaking the light for the end of the tunnel. I give his marriage the standard 1.5 years, before she figures out 50% of his equity is a better deal before it hits zero.
Then she can marry someone else who has a real job and a smaller ego. Win-win!
The best part about this IPO failure is the gaping hole poked in the 'Social' marketing hype. So deliciously rich in irony, I may have to have some coffee with this dessert.
It's an IPO. Eh. "You got it for nothing...you're getting even less." Obviously total incompetence on "the greatest IPO in history!" Probably no way to restrain this dog anyways. PERFECT story on "how NOT to do an IPO"...which is probably why ultimately this is a good thing. Except if you were long Facebook...or Mark Zuckerburg. Although that hoodie he was wearing just went up in value i imagine..."Go long Emminem!"
Why would this not be the ideal of ipo's - one which vc's will recall with fondness for many years? Who bought this thing? Can't really be retail can it? I would suspect some alpha starved etfs no - how do you like me now, bitch.
Beware of Geeks Bearing Gifts! 33.20!
http://confoundedinterest.wordpress.com/2012/05/21/facebook-the-morning-after-bad-software-and-cold-feet/
Good opportunity for Morgan Stanley to average down.
That means most retail is down 20%. This will do a lot to restore confidence in Wall Street.
That's it, keep raping what's left of the suckers. Contrary to popular opinion, the suckers do run out eventually. That's when really bad things happen.
Got news for ya - retail stayed away in droves. The bankers are still stuck with this stinking pile.
By bankers do you mean taxpayers?
To cover this loss, government will introduce Fadebook tax. Anybody who uses or *may* use it, has to pay. Only exceptions are if you earn more than million per year.
In the spirit of full disclosure, I took a shot (I knew it was a gamble) and lost money on it. Purely a speculative bet to play all of the hype. Bought at 40, sold half at 41.15 and held the other half over the weekend. I figured if I sold the other half at 39 I could of broke even. I really thought the U/W would defend 38 at worse.
I could not get out of the bet this a.m.,I kept chasing the limit order and got my but handed to me. This was one of my worse trades ever but I am still curious to see where this stock lands. After the last two sessions I now wouldnt be surprised to see it drop to 15 before building a base.
A guy from one good russian investment blog thinks FB should cost 17$ per share. I somehow agree with him...
Think about MySpace. It is worthless now. Young people made FaceBook and they will move to the next cool thing. Facebook is no longer cool.
a mere flesh wound
That Faceplant is dynamite!
And the fleecing of the retail trader continues....
Long with a 33 handle :) Innit gamblin fun.
Face-Against-a-Table
I hope RoboTrader got some of the action.
Zuckerdork selling hoodies for $38...
Buy one in memory of Trayvon.
Buy one in recognition of the rule of law and the right to self defense.
Op-Ed: Why I Wrote 'Stand Your Ground' Law
BAXLEY: Well, simply because if you carefully read the statute, which most of the critics have not, and read the legislative analysis, there's nothing in this statute that authorizes you to pursue or confront other people. If anything, this law would have protected the victim in this case; it could have.
CONAN: It could have.
http://www.npr.org/2012/03/26/149404276/op-ed-why-i-wrote-stand-your-ground-law
I for one am happy for facebook. They managed to take billions of dollars from the banks without a gun or a bludgeon
the stupid pension funds will get rapebooked.
And babyboomers will get their pensions in FB shares.
WHAT IS THIS?! American talkjob for suckers to buy this crap did not work this time?! This is a vital part of American REAM and now it is broken! Run for the hills!
So when does MS have to come out and admit a JPM-esk trading loss? thursday night?
The etrade baby is one funny ass video!
Is the $33 Maginot Line giving time for insiders to unload?
At least MS didn't have to buy everything at the $33 line today for a solid 5 mintues.
$29 is the next Maginot line, and then.... who knows....
Insiders have to hold until August!
Interestingly, anyone could have had as much GOOG as they wanted at the IPO price and it was a good deal. They used OpenIpo to match up orders, rather than some stupid valuation model used by greedy bankers. The OpenIpo process is the ONLY way an IPO should price.
Who could have ever predicted this..? /sarc
LOL at whoever/whatever is still buying this fiasco.
It appears that the 80/20 rule was in play for the IPO.
20 % of the fools were delirious to get in on the IPO at $38, while the other 80% said it is not worth anywhere near that pricce.
http://youtu.be/VqomZQMZQCQ
We re the SEC and the CFTC and we re in a natinoal market system, NMS killing the retail, thru on line platforms....
BADGES???? BADGES??? We re fraudbook, and fraud street and fraudbank.....
WE DONT NEED NO STINKIN BADGES......WE GOT REGULATORS, HA HA HA HA HA....
Corzined again, babalooooooie....
Flailbook is flailing.
I wonder where the next line of support will come in from the underwriters. I'd venture a guess at about 30... can't have that collapse too hard too fast now.
Nope, looks like 33.
Current valuation is still way off the mark
Seems to me they are propping it at 33... I am not in the market, so I have no way of "knowing" that... but the price has held around 33 bucks for the past 1.5 hrs. It has Goldman Sachs and Morgan Stanley backing it... so any amount of theft will happen to keep it afloat.
Otherwise, the stock market looks like it has gone complete fucktard today and smoked to much of the European Hopium pipe.
A fool and their money are soon to part. ;)
STOCKENFREUDE (n): That feeling you get, as someone who loathes Facebook, seeing FB shares crap out post IPO.
Look at the Hubbert curve (http://www.theoildrum.com/node/7062) to see where Microsoft, Intel, Cisco, etc went public. There was still growth left in economies and reasonable debt burdens and forward looking investments were stronger as a result. Now we stand close to the downslope of that curve with huge debt loads for sovereigns at every level, and for the people too. Does forward looking investment look anywhere near as promising?
My own feeling was the FB IPO, reminded me of one some years ago when a company called "Black" something went public, and those shares never returned to close to the IPO price. I could not believe anyone will pay $38 for FB shares.
I just do not see the income stream or the growth there at this time. I mean they have about 1 billion users already, a big percent of the people on this planet? How many more will they get? How many of those are willing to pay for any "service"? If they would be able to collect $1/month from each user, they would have a good income.
I read somwhere 2 billion total internet users and FB has almost a billion already.
also a major chunk of the 2 billion sit behind the big chinese firewall which blocks facebook.
The banks are playing a game of hot potato, 33$ is still massively overvalued.
It should have opened at $5, which, if memory serves, is the minimum price for a stock and if that stock falls below the minimum for a period of time, it gets de-listed. The strategy could have been brilliant--open at $5, if it goes to $10, it's genius. On the other hand, if it tanks, then it gets quietly de-listed in a few months and nobody gives a shit. But no, the people in the finance world had to have huge brass balls and go for it in a market that everyone can see is completely propped up by regularly-scheduled liquidity injections (that the same insiders all trade on, even though they're not supposed to).
Wow is Groupon already running a special on Facebook stock price