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TeenBook: FB Drops Under $20 For First Time Ever
"Surely not" screams California's Comptroller. "Surely, Yes" sneers Knight Capital's self-aware destructo-capital algo. Faceberg just broke a monumental barrier, trading back into the teens for the first time - somewhere the Winkelvi are bathing in a salty pool of Schadenfreude.
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It will drop to below where manchester united IPO, then its a full on race to the bottom
Shows ya what can happen when the main driving force of a business is ego rather than a profit model.
<-- Not Surprised
<-- Surprised
Right now in the California Governor's restroom.........................
"Jerry, about the bullet train. Facebook is taking it in the shorts as you well know."
"I'm well aware of that. We'll just build it to whatever point we run out of cash."
"Ok, but that's not gonna take it very far."
"I think halfway to Bakersfield is still going pretty far."
It would appear that Governor Moonbeam's state fiscal condition is riding on little but a wing and a prayer. Indeed, he has nothing more to ride, until "magic" bullet train service to the Romaine lettuce fields of Bakersfield is inaugurated.
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Facebook's new muppet pitch:
Facebook = an already dying business model in terms of being able to effectively monetize any activity of its users, who not only tune out advertising on facebook, but are beginning to shun facebook as a social network platform altogether (for a variety of deeply entrenched and deeply trending reasons).
Poor California. They bet the ability to make this year's state employee payroll on facebook @ $35+.
Zuckerberg: Yeah so if you ever need info about anyone at Harvard
Zuckerberg: Just ask.
Zuckerberg: I have over 4,000 emails, pictures, addresses, SNS
[Redacted Friend's Name]: What? How'd you manage that one?
Zuckerberg: People just submitted it.
Zuckerberg: I don't know why.
Zuckerberg: They "trust me"
Zuckerberg: Dumb fucks
...All you need the train to reach is FEMA REGION IX Re-education camp. And the BONUS: We'll cut the costs of the project in half because The return tracks will not be necessary.
Ah, Fidelity. Such a tangled web you weave...
http://buzz.money.cnn.com/2012/08/02/facebook-stock-fidelity/?source=yah...
My prediction...when faceplant is selling for 24 cents a share the Winklevoss twins will buy the company using their settlement money and then demote Suckerberg to janitor
That would be funny. I'm betting the CIA will take it back to private first, though. I'm sure they've got some spending money laying around somewhere.
It will drop to below where manchester united IPO, then its a full on race to the bottom
Hahahaha, with a 41% decrease in GM earnings, I wonder where the $600 million they pledged will come from?.
ObaMao's investment of our tax dollars isn't paying off.
communism never works
Facebook = Pets.com
facebook = (mup)pets.com
i would say FB = YHOO
Business (attach scare quotes if you like) overwhelmed by shifting models -> YHOO's muddled portal / mail / search (or whatever they were trying to be) eaten by GOOG : FB's fustian social model by mobile, etc.
Zuckerbook will eke it out as a low billion dollar company.
FB < YHOO + MySpace
MySpace = negative equity
PE = $5 minus the damage control minus the tarnished more at shit image minus the fake 80% bot-gamed ad rev = FUCKBOOK $2.89
And I'm being fucking generous here!
Creamedbook.
What does a muppet sheeple look like? Elmo+Sheep=Sheeple Muppet?
You mean like while bent over a tree stump?
Like this
And MDB is still dollar cost averaging
WHERE IS JON CORZINE?
... last seen drinking Cristal poolside in the Hamptons ... why do you ask?
Rumor has it that The Hon. Jon S. Corzine is preparing a bid to buy PFG & Knight Capital (once it files for BK and discharges creditor claims) out post-Bankruptcy proceedings, and then combine them into an entity that will petition for and receive primary dealer status from the NYFRB.
#TheHonorableJonCorzineKeepsPimpHandStrong
Former United States Senator (D-NJ), Former Governor of New Jersey, Former CEO of Goldman Sachs, Former CEO of MF Global (a former Primary Dealer), and prominent Obama Bundler.
His latest facebook update was "I'm wayyyyyyyyyy ahead of the curve!"
Where is the PPT? Doesn't this have some important implications?
Downtown Lower Manhatten, not that I've been checking.....
another $18 to fall and I'm buying.
I have had standing BUY orders at $1.82 since the IPO...at this rate they'll fill by Labor Day.
This is looking like Bukakibook.
No, I would probably actually use Bukakibook
Well, that's only about $3 more than it's worth.
Optimist!
Winkelvi, indeed. The smug satisfaction is palpable.
no mojo
1 FB share < 1 oz silver
As die Welt Turns
reposting for lols:
Meanwhile Theophilus Hodges, a 36-year-old property manager, stopped into an E*Trade branch in downtown Chicago on Friday morning specifically to open an account to buy Facebook shares, he said.
"If it wasn't for Facebook I wouldn't be here," he said as he left the branch to go to his bank and transfer money into his new account. "I missed out on Groupon when it went public, so I'm not going to miss the boat this time."
Mr. Hodges said he plans to invest $10,000 in Facebook shares—including $4,500 of his own money and $5,500 from his mother.
Mr. Hodges expressed confidence in Mark Zuckerberg as Facebook's CEO and said he isn't worried about Mr. Zuckerberg being young. "To me, he's a genius. You know, he created something for the whole world... Everything is social now. The world is a different place with Facebook," he said.
i feel sorry for him, because he got suckered into the wall street sales team. he is a victim and usefull idiot for wall street.
...there is an old saying about a Fool and his [and Mom's] money.
I wonder if he got kicked out of his Mom's basement after losing so much of her money?
Not everyone is a trader. I remember when they told me not to buy WFM at $20.00
I have facebook, but this is a fucking cliff dive.
She can't! He's the only retirement option she has left.
Suckerberg appreciates Mr. Hodges' support.
Mr. Hodges and his Mother confused quantity with quality, perception with reality, and gambling with saving.
I need to invite this guy to my poker game.
Why? He won't have any more money to lose.
Too bad it never ocurred to Mr. Hodges that he knew *nothing* about this that everyone else did not also know.
Yet, he was somehow convinced that it was going to rocket upward in price. On what basis? Great value that no one else had seen? Determined how?
The fact that I remember that exact passage tells me that I haven't been drinking as heavily as I thought I have been.
Reading zerohedge definitely has increased my alcohol intake.
It's funny how he say's he "missed out on groupon." When facebook IPO'ed, groupon had already lost over 50% of its initial listing price. You can't get any dumber than this guy...
> "To me, he's a genius. You know, he created something for the whole world...
"This is a drug, for the world, to give worms to ex-girlfriends!"
http://www.youtube.com/watch?v=iJ__KkzH1U8&feature=related
basically he bought a piece of suckerbergs 100000$ gold encrusted toiled bowl for him.
that was a true story. very much remember reading that because i felt so bad for his mom.
Why, it was that dumb bitch who raised him.
Perhaps so, but he was likely also a product of the publicly funded education system.
drink or die,
Cheers mate, I dont think I have laughed as hard for months. Seriously though, does any one of you lot really believe this bag of shit would do anything other than tank? I sit at the sidelines watching stupid fuckers throw not just theirs, but their familys money into the drain.
Idiots, one and all, if it is not batshit obvious by now ZHers, stay away from people who will take all you have left.
And then come for your shirt....
Congrats to all who had the foresight to short this pig.
The day options traded, the options were so rich on both sides I didn't bite to my loss. Some times the over price has value, lesson learned.
Technical support kicks in at $0.
Absolute or relative zero?
Hedge accordingly.
Let see, Im gonna have a huge party, have everyone I know there.... whats that, how am I going to pay for it? damned if I know.
Look at the very short term 1 month Tbill - moved from .06 to .03 this morning. 30 year moved from 2.57 to 2.53. Signalling what?
a flight to anything remotely considered safe. SPain and Greece are actually starting to run out of money, not in the usual spreadsheet nonsense, but in the actual, you aint getting paid sense. The fan is about to be turned on, and the shit buckets are being filled.
What I am looking for is the 1% 20 yr. and we are very close. The bond bubble may make all other bubbles look small? Rates are neg. all the way out to 10yrs. Friends ask me what to do with their extra cash? I tell them to buy their kids mortgages and credit card debt in return for double the 10yr U.S.T. all sides win (of course good credit history still applies). So far I have seen many smiles from both sides. What does anyone else think? Savers have been crushed by LIEbor and the Fed if the kids don't pay it's a gift. If your kids cheat you money has no value anyway. Sad days for savers needing income. O'Bummer will be the end of all savers!
This harkens back to the ZH comments of old... put it in the tomb
we do have an historian don't we??? or just WBanzai art in the time capsule?
Thanks Joeblo...I only wish I'd shorted it more than a token amount, and a little earlier.
Pretty sure the Winklevii got stock as thier settlement. meaning this is not good for them.
Zookerborg needs to rename the company to FACE PLANT.
Don't cry for them, California.
A "realistic" valuation based on expected revenues (not that that matters anymore) was $8/share, IMO. But this was before I read the possibility exists that Facebook ad revenues might be manipulated by bots. If 80% of the ad revenue is generated by phanton bot clicks, maybe $2/share is asking too much......
My own assessment pre-IPO was $5. We would be calling Zuck an idiot for leaving so much money on the table right now if they had done that, and maybe it was not even technically feasible to bother with an IPO at such a low valuation. I try to get inside the heads of these Wall Street sociopaths--I keep going back to "Silence of the Lambs" for reference material.
mine was $4 with a hype encrusted floor at $10
There was am article yesterday on how California's tax revenue is going to drop way more than they were expecting because of the falling price of Facebook....i am sure the Government has already spent the windfall...or so they thought....
they'll do what Chicago does and sell 100 year leases on everything and blow the money in 2 years
When did FB announce a 2-for-1 split?
when flopbook went public
i wanted to short it @ $45 = but not available to short
@ 26 i bought and SOLD @ $30...watched them go to $33 = me NOT A STUPID PERFORMANCE CHASER.
Now @ $20 or so...will become a buyer @ $14, $13 BEFORE dead cat bounce to $19 and sell !
Cool story bro
LOL
i wouldn't be surprised if floopbook
bounces from 19 and is pumped to mid twenties...i woulnd't short now...may wait for mid 20s to short.
but i'll be a temporary buyer in low teeens = and sell dead cat bounce.
yeah next lock goes off in Nov.. you better bounce that kittie before then
Just wait til he gets to the part when Jessica Alba proposes to him but he turns her down for not being hot enough. It's a real page turner.
And here I was, thinking to myself, "I wonder how doc_in_the_house played facebook."
Get the fuck out of fight club douche
sorry STUPID PERFORMANCE CHASER
who lives in a 1 minute sphere.....my latest trades = shorted last fri spx @ 1386 = ROOOOOODE til today @ 1360 =i covered..don't care that it went to 1355.
now in cash waiting for 1375 to reshort and ride to sub 1300 b4 dead cat bounce...re-short above 1300 and ride to sub 1100.
last fri shorted EUR @ 1.232..covered today @ 1.2161 @ 4X leverage....waiting for 1.225+ to reshort....
and how much did you make in 1 LOOOOOOONG minute?? = PEANUTS!! LOL !!!!!
I do believe your prescription is in dyer need of upgrade and refill.
sorry STUPID PERFORMANCE CHASER
who lives in a 1 minute sphere.....my latest trades = shorted last fri spx @ 1386 = ROOOOOODE til today @ 1360 =i covered..don't care that it went to 1355.
now in cash waiting for 1375 to reshort and ride to sub 1300 b4 dead cat bounce...re-short above 1300 and ride to sub 1100.
last fri shorted EUR @ 1.232..covered today @ 1.2161 @ 4X leverage....waiting for 1.225+ to reshort....
and how much did you make in 1 LOOOOOOONG minute?? = PEANUTS!! LOL !!!!!
Wow, doc_in_the_house, I believe you. I really do! Can I join you in the Dark Side? The force is strong in me!
You are a genius and can never lose. Whatever you do, don't stop playing.
Ya, well my friends Mom makes $1543 per hour working from her computer after being laid off from $5 an hour job!!!!
Beat that douche_in_the_House.
I'm canceling my subscription - she doesn't DP anymore
Im told it's a temp medical thing, she will be ready once the meds kick in.
In the meantime she is serving up Tossed Salad and Dirty Sanchez'z
I destest the way bloombergtv has washed its hands of this, especially when all the talking heads were pumping it big time, they were talking about 70$ a share ect, they basically led muppets to the goldman slaughterhouse.
let me tell u about bloomberg:
alexis steel on june 4th: "short the rallies bc its BEEN working" = me short cover my spx 1400+ shorts @ 1265. = SHOE SHINE girl calling the BOTTOM (temp bottom)
yesterday with pimm fox she says: " a short squeeze is coming" = announcing the TOP..actually i shorted last fri @ 1386 and just covered today @ 1360...waiting for 1375+ to reshort....waiting in 100% cash.
Its not only Bloomberg. CNBC was all over itself pushing the stock. Cramer, in his usual screaming harpie mode, pushed FB so hard I knew it had to be bad. Cramer reversed his position so many times as FB fell it stymied even CNBC. Someone should drag that fucking idiot off TV with a crooked staff around his neck, but unfortunately he will never be liable for his stunning ignorance.
Then CNBC wonders why their viewership is falling off the cliff.
i like that STUPID SHOE SHINE BOY
but can't stand listening to him...so i just sometimes READ his market recaps and "PRICELESS ADVICE" from his website.
NFLX @ $300 = he says BUY = me short
SLV @ $45 = he says BUY = me short
AAPL @ $629 = he says: $1000 makes ARITHMETIC SENSE = me short
gold @ 1800+ on vet day, 2011 he says buy = me short
i got plenty of OTHER SHOE SHINE BOYZ n GIRLS...he's been fired from my liste simply bc i can't tolerate him by sight or hearing.
But as we learned in 2001-2003, all financial media is designed to do only that!
NEWSWEEK
haven't you heard about the newsweek covers? the MAINSTREAM MEDIA = STUPID PERFORMANCE CHASERS...everywhere i see shoe shine boz n girls. whether its bloomberg or cnbc or print media = performance chasers.
i remember in feb/march 2000 NEWSWEEK COVER = "everybody is getting RICH , except ME!!!" = sell and short !!!
Hey, Captain Obvious...this is ZH. You're preaching to the choir.
doc is one of our newest trolls, and a damn good one.
Every post of his is an annoying, oddly formatted rant about his amazing investments. No grown man could be this needy for attention, so that tells me he is a fake.
keep it real baby!!
the PROFITS ARE REAL...even though i get paid in monopoly printed money. gimme gold to $300 and i'll convert my funny money.
Don't take it personal doc
There's a general understood rule here on ZH.................
NO ONE LIKES A BRAGGART
bloomberg tv = advertorial tv
Well just look at who the douche network is named after.
But Zuckerbutt posted all those really gread ads in the middle of my timeline!! I've been clicking them by mistage like crazy!
Yes! And if you notice when you post something and you get the 'your message has been posted box' with the close button, if you miss hitting the close button as it vanishes on it's own, you are clicking on an ad. Sneaky douches!
Couldn't have happened to a more deserving, customer-abusing, Dot Com Bubble 2.0 company and its incompetent smug douchebag CEO.
You left out "hoodie-wearing". He should be maimed if only for that :-)
Oh! No! Facebook is a teenager with zits upon zits. Can even Jessica Simpson help with ProActive?
Hey, MillionDollarBonus, start squeezing those zits!
And braces. Don't forget the horrible braces.
I saw one today... zits and braces. ugh.
Today's ugh will be tomorrows's most chased after hottie.
["Surely, Yes" sneers Knight Capital's self-aware destructo-capital algo.]
That is one of the funniest things I've ever read on ZH.
Critical Lessons From The Facebook Scam: A Blast From The Past
After you read this article, I highly recommend that you read the 5-part series on Facebook (Part 1 Part 2 Part 3 Part 4 Part 5) because it contains additional critically important points that all users of Facebook should be aware of. As well, it contains some very valuable lessons about the investment process that I can guarantee you will not see, hear or read about elsewhere.
Time for the FED to get Goldman Sachs to create "SMBS" (Social Media Backed Securities) so the FED can buy a bunch.
Treasury to offer tax deductions for number of photos posted to your timeline and hours playing Farmville.
Virtual corn, soybean, and wheat crops to be offered on the commodities market.
London to rehypothecate SMBS's and sell to PIIGS and CALPERS.
Jerry Brown to ask Linda Ronstadt to post old photos of their dating days to Facebook.
Timmy Geithner to do commercials promoting the patriotic virtues of buying SMBS bonds.
The most pathetic thing of all has to be Facebook's PR department. Not one public appearance of management or announcement of why they think this is happening, how they plan to deliver for investors, etc. etc.
Not that it would matter, because, no one believes a word of anything they say now.
The actions of senior management have been speaking louder than words since before the IPO launch. It's time to bail and fail, and it isn't over yet.
*** pump em -n- dump em ****
just wait til everyone figures out that their entire revenue model is propped up by Zuckerbots (as seen first here on the hedge)
This is most likely due to the fact that the "senior" management is just a bunch of 20 year olds who probably have no idea that they should be making such statements, or feel they don't have to conformt to such conventions because, well, they're Facebook, and they're special--unlike those "old school" companies that like, you know, actually make or do stuff.
I went to interview for new job with a solar development firm whose offices are in the Zynga building. The entire place was just filled with 20-somethings running around in t-shirts, playing ping pong and video games. All I could think was, "aren't there any adults here at all?" and "no wonder your stock is fucking tanking." There was a free kombucha bar in on the main floor, however.
.com = .socialmedia.
A whole slew of hype'd money business models.
Facebook,
Groupon
Zinga.
am i missing something?
never felt like i need a fazebook account nor the stock!
just like anything on the wallstreet: a perfumed pile of shit
It was easy for me to avoid ever creating a FB account--all I did was think back to my bad old days and realized there was enough people who abused me back then that I would never want to make it easy for any of them to find me and continue abusing me in the present. Old friends and such are over-rated. If you had anything in common with them now, you would continue the relationship in the real world.
As a social network hipstar and 21st-century alpha male, I do have a Fakebook page -- but I update it using Tor and VPN. That's how us 1337 hax0r's maintain total anomynininity...
$20 was support....for a few hours anyway. Now its resistance. Resistance is futile? I took out 4 $20 puts the day that options started trading, should have taken out more I guess. Oh well, I've made more off of FB that all the people that bought stock in it, LOL!!
dupe
over 9 months
under 9 months
poll: when will we see MarkyZ pull a Jason Russell?
FB: Sheep shearing, 2012 style
Yikes, what does that make ZNGA?
Farmbook is in an epic drought.
You have just been Winklevossed , in the Summers time, you bunch of Zuckers
50 billion is still way too high of a market cap.
it was found out in current investigations that the clickrobot was indeed he himself:
he attached the vibrator of his wife to the mousekey of his computer. it was during his honeymoon.
assuming it's true and FB is using bots to boost revenue, i see the following
1) 80% of revenue goes away and FB goes from a billion dollar earning to $major losses.
2) Customer lawsuits start and FB has to settle or pay back close to a billion.
3) That means the company now becomes a penny stock.
they had revenue of $4B and EBITDA of $1B. Now they have $10B in cash, but, if they start losing $3/year, their market cap could become less then Book value and they could be raided by Mitt Romney.
Imagine FB goes onto the pink sheets and Romney while on the campaign trail does a raid on FB.
of course FB has SPlit shares A/B so Zuckerberg has 80% of teh voting control, but, that means he may be vulnerable to
lawsuits. If you can show FB was criminally raiding people of clicks, you could charge him and the company as a racketeering enterprise
assuming it's true and FB is using bots to boost revenue, i see the following
1) 80% of revenue goes away and FB goes from a billion dollar earning to $major losses.
2) Customer lawsuits start and FB has to settle or pay back close to a billion.
3) That means the company now becomes a penny stock.
they had revenue of $4B and EBITDA of $1B. Now they have $10B in cash, but, if they start losing $3/year, their market cap could become less then Book value and they could be raided by Mitt Romney.
Imagine FB goes onto the pink sheets and Romney while on the campaign trail does a raid on FB.
of course FB has SPlit shares A/B so Zuckerberg has 80% of teh voting control, but, that means he may be vulnerable to
lawsuits. If you can show FB was criminally raiding people of clicks, you could charge him and the company as a racketeering enterprise
i doubt zuck really cares. hes made his billions.
The funny thing is, as I understand it, how the locked up restricted stock holders will be forced to pay taxes whether they cash out or not. Lots of shares will be blasting the price as the holders need to sell some just to raise the dough to pay the taxes.
Bricks are indeed being shat by the insiders as this things circles the drain.
Party like its 19.99!
CNBS needs to be on trial for their pump of facefuck. Im sure they got a check written. AND the chicago tribune for their pump of Groupshit.. now 6.42 if you would have seen everyday the cheerleading you would have puked..
Simon and cohorts denied that this morning, they said they never pimped the IPO, which they did, they made up custom in show public offering commercial graphics for it and all. They are part of the problem.
Opening Bell of Facefart: http://www.youtube.com/watch?v=dWSPfwoae88&feature=related
Pimped = http://www.youtube.com/watch?v=cgn1jMIwULs&feature=related
The warning: http://www.youtube.com/watch?feature=endscreen&v=YN9_MT2Zi9A&NR=1
Then this happened: http://www.youtube.com/watch?v=l9AwfA_hK4o&feature=related
The Fallout: http://www.youtube.com/watch?feature=endscreen&NR=1&v=lsDh7zjmCpM
Simon is an annoying fucking twit.
Predictable, support at $5 seems reasonable. No buy though, there's no well thought out business model there.
BUY SILVER BTFD!!!! BTFD!!!!!!
Facefarce. Do we all get a charge back from all the data you sold to the NSA? Just askin.
Penny stock status like BOA by Tuesday next week.
Knock-knock! Your worst nightmare is just knocking on your door Facedebouc!
All this for a low low price of $19.99
Act now, and we'll throw in another share, absolutely free.
While supplies last.
Offer not available to Monkeys or Martians, i.e., only humans are stupid enough to buy this anyway.
You forgot the muppets.
Wastebook will be gone from our primary consciousness within three years...
Well, as i look at the number of posts on this topic: Facebook brought back production to the States. You can't argue that.
....and they file info today with the SEC re: 83 mm fake accounts????
http://www.chicagotribune.com/business/la-fi-tn-fake-facebook-accounts-2...
and heres the story.. funny this didnt run in april..why?
The only reason I'm covering my FB short now is to go long EUO, after Goldman's long-Euro-to 1.30 recommendation.
Had i not been wiped out by Nowotny and Draghi, during the past couple of weeks, I'd have more capital to feed my gambling problem, but c'est la vie.
I heard something about "Path" another social website that is supposed to be everything that FaceFu** isn't: like secure and concerned with your privacy. I think now is as good a time as any to check it out.
I've posted a link to Path on my useless FB page. No one will give a shit.
If I were in the VC game, an early stage company would have to make a REAL strong case for being based in CA these days. It comes across as shitty stewardship.
It would piss me off to see a portfolio company spending tens of millions of early stage investor dollars on those taxes, new buildings, overall high cost of living necessitating blowout salaries, etc...
Body slam the product and market first.
Earn it.
Relax.
It's back above 20 now...
(!)
I've run ads on Facebook for my small online company and it was completely fucking worthless. The click through rate is less than one trillionth of one percent. Stopped advertising there immediately.
People are using Facebook to see what their friends ate for dinner. They're not interested in clicking on ads anyway so it's a useless platform to advertise on. And this is the main source of income for the company? No wonder it's going down the toilet with the rest of these social media scams.
I'm still amazed at how even after telling 'friends' that every photo they post is the prop of FuckBook, they still post all these shots of their kids. wtf?
Can the NSA tell if I up arrow anyone yet?