This is a perfect scenario for the bears. Thanks to all of the fucking hype surrounding the Facebook ipo, coupled with the brainless pricing by its underwriters (fuck you Morgan Stanley, I hope you go to zero), the market’s fate is now tethered, mind you, to the fluctuations of Facebook’s stock–currently in “knife your face” mode.
That’s right. Nothing else seems to matter now, except for the share performance of FB. Look at closed end fund, SVVC. They just announced owning 600,000 shares of FB from $31. They also reported to have more than $19 in NET CASH on hand. Meanwhile the stock was down 26% on Friday and down some more in pre-market, trading BELOW cash. Does that make sense?
Once again, the entirely of the social media space is being sold off, thanks to the Facetrap.
The more I read about Greece and Europe, the more somber I get. I think it’s fair to say, the doom and the gloom is certainly starting to sink in. Just a short while ago, the market could do no wrong. Now we’re on the cusp of an unprecedented melt-down.
Starting immediately, should this market refuse to bounce, I will be forced to hedge my longs. I know that sounds reactionary. But remember, crashes don’t occur from overbought levels, but extreme oversold levels. I can’t afford to sit by and watch my assets shrink, thanks to the excesses of some greedy underwriters and a totally bankrupted continent of Europe.
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look at gm’s statment concerning fb. then not to have adds on the superbowl. says more about gm than meets the eye…? could it be their havin trouble? china slowdown? too many cars made?
Put on your welders mask because the blowtorch is coming for your face lol
why not play social media via mmorpg gaming.
social with cash flow.
Names?
There are times, as a trader, that I’m glad, as an investor, I practice diversification.
This past month, or so, has eaten my modest 2012 batting cage too.
The checkerboard is riddled with more land mines than any rational investor might expect.
Being in the game without any compound fractures is wynning (sic).
To hell with FB. If AZO goes then we are all in a world of shit.
In the end, the Facetrap IPO was intended to allow the founders/executive to “cash out” and leave everyone else as the bag holders. The IPO as far as Facebook staff is concerned went amazing, priced far beyond reason and they are happy, fuck everyone else is their motto. They are out and on a beach right now. Only the dumb fucks of the retail world are left owning a bag of popcorn in an empty drive-in as everyone has left.
Only the dumb fucks of the retail world are left owning a bag of popcorn in an empty drive-in as everyone has left.
I think the bagholders are sitting on the $MS trading desk after Friday’s brilliant prop job.
Agreed but if there were any misrepresentations on the part of the corporation or underwriters, probably unlikely, the suckers will come looking for blood.
Y’all ain’t seen nuthin’ (sic) yet. Just wait ’til we hit the lockup expirations in August (90 days) and November (180 days). I don’t know exactly how many shares become available for sale but I remember it’s a big number each month.
nasdaq cleans up? ms pukes?
How bad is your day going? Mr Z has lost about 2.5 billion this morning. Can’t be going that bad.
Wait until his old lady takes him for half. That will leave a mark.
Mr Z is playing ping pong right now. He is not to be disturbed until 3pm.
LOW, wow, I thought they had somewhat decent earnings.
Iniating my SPY weekly puts from here at 131.09 APPL is not big enough to drag this back, and I’m betting a little big on the G8 not being able to come up with anything concrete.
The miners are doing well so I guess it’s back to work Monday. My wife spends a lot of time on FB. I asked her how much she spends there. Her ans was $0.
Does any one know what the lock in period for the FB employees who own shares? They may have become millionaires on paper but how long before many can actually sell?