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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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Damn sorry I missed this one but I didn't have any money left after buying GM at 35.00.
I investment my total retirement in FB, played their stupid farmtown and maxed out my credit cards buying stuff I didn't need.
I had 3,000 facebook friends who all abandoned me when I asked for a handout after the IPO went south and left me broke.
I even went so far as to boycott Government Motors for abandoning FB advertising and bought a used 1985 Toyota instead.
Now I got an empty wallet, no bank account and too old to get a job to fund my retirement.
The tales we weave which mice and men believe.
Poke
bushy tailed buy at 2.5 USD. Go short with ZIRP money and buy long when it hits 2 USD. You'll have girls crawling out of your ears, as you'll be the mouse that roared!
Wasn't Buffet flapping his gums recently about how "really great companies" are hard to value in connection to Mark Zuckheads company???
Facebook! y u no liek profit
What are the retail clients of Morgan Stanly Smith Barney feeling? Bent over.
No reason for the brokers to call them and get them to sell today, if they do, they lose their sales credit for selling them IPO shares on Friday. What a disaster for the clients.
Was it legal for underwriter jerkoffs to not let the price drop below 38? Sounds like this thing would have traded to 28 on day 1.
FB IPO is the biggest hoax
Oh no it ain't.
Not even close.
FB is merely a brick in the wall.
Zynga down 5-6%...
http://finance.yahoo.com/q?s=ZNGA
That horrible, spyware filled shit called Zynga ... farmville, mafia wars, etc... can all die and burn in hell for all I care.
If I still had a facebook account, which I don't, but if I did I would unfriend any moron that played either of those stupid time sucks!!!
http://www.youtube.com/watch?v=CFDUOfRXP_k
"I'm a big boy in the casino, everything I do is CRAZY big!"
"When I heard about Faceboob IPO, I went ALL IN!"
Countdown to Zuckruder film of him dancing naked and raping maids. Will be ruled incompetent and replaced by the Manchurian wife.
How dare you sir! I find your comment to be offensive, scandalous and reprehensible!
Sincerely,
Rupert Murdoch
I think the best way to protest Wall Street today is to close your Facebook account. Those of you who can't survive the DT's of life without Facebook (poor bastards) can always reopen one in a few days.
It's funny now, but wait until you get the bailout bill for the banks supporting this piece of shit
" Aaaand it's gone ........" "next customer please"
I fart in your general direction you silly traders.
What a joke, poor Benny we all know he was hoping that FB would take over the reins and push the market forward. Oh well, looks like its time to print again. I am sure that Beeny will buy both FB and APPL when he is ready to take the NASDAQ up. I wouldn't short this company, even though it is clearly overvalued. It will be too easy for Ben to use these two stocks to drive the NASDAQ...
What a joke, poor Benny we all know he was hoping that FB would take over the reins and push the market forward. Oh well, looks like its time to print again. I am sure that Beeny will buy both FB and APPL when he is ready to take the NASDAQ up. I wouldn't short this company, even though it is clearly overvalued. It will be too easy for Ben to use these two stocks to drive the NASDAQ...
They need to do a RIPO...re-IPO
zuckers !
This is a symptom of a stock market in which the prices of stock have nothing to do with the underlying value of the companies. Perception, propaganda, and hype have more to do with stock price than sales and net revenues. Why did anyone prop up a $100 billion valualtion for a company that maybe posts $1 billion net revenue? Have we forgotten business school 101 basics?
What if all of this money had been invested in physical gold and silver instead? Do you think those prices would be off 20% today. LMFAO
These markets deserve to be treated as if they were simple video games. At least in Vegas you get a free drink while you're being fucked.
Who cares about P/E as long as you're making bank?
Oh, sorry...never mind.
Morgan Stanley fucked up another IPO with 25% too many shares. They only paid a 25 cent concession to brokers to add insult to injury.
Based upon a reality-based IPO valuation for FB, it's one hell of a lot more than 25% too many shares offered. See my post below on that.
For the FB IPO valuation, it should have been compared to an established, successful firm with exactly the same business model (Internet ad clicks):
FB 104.81B mkt cap, 2011 profit $1B, mkt cap/earnings = 105 (INSANE)
GOOG 195.75B mkt cap, 2011 profit $37.9B, mkt cap/earnings = 5
What each FB share would be worth if its IPO mkt cap/earnings ratio is reduced to Google's figure of 5:
5 x 1B profit/2.74B shares = $1.82/share (at most!).
Any idiot who invests in FB at its current share price deserves what they get.
I mean is anyone suprised? it is fucking comical. The biggest IPO jerk off scheme with a site that caters to soccer moms with nothing better to do post pictures of their ugly kids. And fucktards bitching and moaning about this and that. It is all a time waste.
IMO the Fakebook IPO will mark the beginning of the flush.
Sit back and enjoy the ride.
P.T. Barnum would be proud.
The egress could use some fiber
I'm not sure if this drop in FB price will affect consumer sentiment of my 12 Step Farmville Addiction Recovery Program.
Next time you put Goldman on the Payroll, mofos...
http://www.youtube.com/watch?v=km4zWLaq4OE
So does MS get Lehmaned over this?
I can't wait for the Hitler mash up video. "Hitler buys FB on margin".
"Mein Fuhrer, Zuckerberg... has left the country"
There you go...
http://www.youtube.com/watch?v=PzVEK2QcdSw
Love your icon.
Was that little shelf early on @ $35 the underwriters keeping the breakers from tripping?
FartBook will be delisted in 3 years. All their employees will sell out and leave.
Apple's knee jerk spike seems to be promoted by a jilted FB techy investor market getting consoled by #1 stock on market.
Here's a joke fit for the Facebook conundrum...
A woman goes into a doctor's office for a regular check-up. As she's waiting in the examination room, in walks an old Japanese Doctor.
He instructs her to remove all of her clothes, which she does. He then tells her to turn around, so she complies. Then he tells her to walk across the room, and this she does as well. Next he tells her to get on her hands and knees and crawl across the floor toward him quickly. Finally he tells her to crawl away from him.
When she stands back up, he murmurs to himself, "This bad, this very very bad...".
"Doctor, what exactly is the problem," asks the lady nervously.
"You have Zachary disease," replies the Doctor.
"Zachary disease? Oh my goodness, what is that?"
The doctor says, "That mean you face rook Zachary like rear end"
Short cover rally going full tilt!
Thank you Sheryl Sandberg. Are you still saving the children today? I think a lot of children are going to suffer for this.
We though the market was goign to be saved by facebook and looks like we are right! FB blowing up means +1% rally!! yay! thanks PPT and FB!
Looks like Myspace2...er...I....mean....umm Facebook was overvalued
Overvalued crap goes to true value, bottom not in yet.
Except when that overvalued crap is the Real Estate Market, because then the Model is 100% always, always, ALWAYS correct. Especially when it's catastrophically wrong.
I'm still thinking 2 or 3 dollars a share would be a fair evaluation on Facebook, based on profitability.
Myspace ring a bell?
Maybe the Bankster underwriters just used the "Multiply by 10" rule like they do for all other bank assets.
We have 1 dollar, we can lend 10....
We have 3 dollar facebook stock... we can sell it for 30!
To POTATO and BEYOND!
Jerry Brown must be revising the revenue budget downward.
No no no. 20+ percent of their revenue is going to come from Facebook shares.
Right? Right?
Keep Californians away from firearms and high places.
Note to Ben, don't fret, fire up the helo and let the let the green paper dropped teach the muppets that $38's cheeeep, long hyper-inflation, FB to $1000. Maybe break out those "damaged" $100 bills. Ben you have the power, beeaooottcchhh!
I just can't believe FBs market cap is twice that of News Corp.
Thats because at FB, they dont need to hack your phone to get data on you. Less litigation risk.
I'm pretty sure that's exactly what FB mobile is planning to do..they'll just hide it in the terms and conditions
This was a fluke, and FB will explode in a few days. So I just bought 500 more shares.
Let the fb stigma trade begin.
*guffaw*
Yes, buy FB, but only hold the physical... Paper FB is crap.
Frontpage of Drudge is using the title "FADEBOOK" yet all off the links are to CNBC. Amazed that Drudge would thieve Zero Hedge's title and not give credit via a link.
LOD: 33
'Nuff said...
I.P.O. = I‘m Pissed Off.
idiots pay overvalued
Who's the muppets now bitchez...
LMFAO
Jump, you bastards!!!!!!
Shows you that the real pump & dump couldn't hapen when the nasdaq couldn't cooperate.
FB<$20 IMO
Quote from CNN today:
"More than 80 million shares changed hands in the first 30 seconds of trading on Friday"
Me thinks this IPO was merely hyper-hyped only to let those running the high-speed/volume bots run the price up and sell it all off. Now, there are going to be suckers all the way down to the real value of this stock... probably around $5/share.
FaceBook - The Hula Hoop of the 21st century! Where's your hula hoop and how is it doing?
http://www.youtube.com/watch?v=uLOAXDb6fps
Shortbook.
Someone mentioned FB took money away from the banks....actually the banksters made out like bandits:
http:// www.businessweek.com/news/2012-05-18/facebook-underwriters-to-split-about-176-million-in-ipo-fees
"Facebook has official entered bear market territory..."
IT'S A DIARY - A STUPID GAWDDAM DIARY. THAT'S ALL. IN A NATION THAT OUTSOURCES ALL ITS MANUFACTURING, DOESN'T IT FIGURE THAT SOME SKATER IN A HOODIE BECOMES A BILLIONAIRE JUST BY SELLING A GAWD DAM DIARY. WHAT A GREAT DAY FOR AMERICA.
Rgds
The IPO was so theatrically maneuvered, perhaps the "believers" thought they could make some quick cash to pay down their mortgages. Oops, I did it again.