Facebook IPO

[iamwhatiseem]

We were offered a piece six months ago at $32. There was a big seller in the market offering ~$220 million worth of stock. We said we'd buy it at $16. It didn't happen.

I think this smells of the biggest oversell for an IPO in a couple decades.
If anything, what it has done by drawing this much attention is an examination of their product and revenue.

 

[Trajan]

We were offered a piece six months ago at $32. There was a big seller in the market offering ~$220 million worth of stock. We said we'd buy it at $16. It didn't happen.

did they counter?

 

[Oddball]

 

[Douger]

I don't invest in stupidity. Nickel anyone ? How about some kiwi or pineapples ?
Does Farcebook taste like chicken ?

 

[Toro]

We were offered a piece six months ago at $32. There was a big seller in the market offering ~$220 million worth of stock. We said we'd buy it at $16. It didn't happen.

did they counter?

No. And we weren't negotiating either.

 

[usmbtech]

Mark Zuckerberg Rings NASDAQ Bell; Facebook Third Largest IPO Opening in History

The big news of the day is now officially out. Facebook's IPO was launched and priced out at $38, with a valuation set at $104 billion. Mark Zuckerberg himself rang the NASDAQ bell to start the trading day off with the big announcement. But, of course, he and the rest of his team at Facebook couldn't just do it the old fashioned way. They are code-junkies and hackers, after-all. So, they did things a little differently. One was pretty simple. Without a word, he rang the bell remotely from his company's headquarters (normally new IPO's will go to New York to ring it in person, although not always, so he was not the first to do this). Second, and this it where things get more interesting... beforehand, his team of engineers at the HQ found a way to hack the remote NASDAQ button, so that at the exact moment he hit the button to ring the bell, it would post the story to his Facebook timeline to let his friends and subscribers know. Here's a quote from the TechCrunch article with a few details,

 

[IndependntLogic]

Anyone have any opinion about this?

All they have been talking about is this IPO on CNBC. I remember missing out on the Google IPO and that one shot up. I can't buy the IPO, but maybe it will still be in play like Google was in the secondary market.

It will end the day between $40 - $45. The hype will die down quickly and Zuckerman will get laid. A lot.

 

[saveliberty]

I'd buy 100 shares....



@$17.00/share.

 

[Zander]

I think there will be plenty of better buying opportunities in the future to invest in Facebook. $38.00 is overpriced and the market will quickly come to that conclusion.

 

[iamwhatiseem]

What is interesting is it has been stagnant most of the day. Volume but not increasing in value.

 

[Trajan]

the underwriters came in via a 30 bank consortium to prop it....is that normal? I don't know....

 

[Mad Scientist]

I don't invest in stupidity. Nickel anyone ? How about some kiwi or pineapples ?
Does Farcebook taste like chicken ?

Even Al Capone knew the Market was rigged. It still is.

 

[Toro]

FB closes up $0.23. My guess - and it is just a guess - is that the stock will be significantly lower than the $38 IPO price within the next few days/months.

 

[Zander]

FB closes up $0.23. My guess - and it is just a guess - is that the stock will be significantly lower than the $38 IPO price within the next few days/months.

My feelings as well. If an investor is interested in owning FB, they'll find plenty of better buying opportunities in the future.

 

[iamwhatiseem]

FB closes up $0.23. My guess - and it is just a guess - is that the stock will be significantly lower than the $38 IPO price within the next few days/months.

I would agree...after all the hype and headlines all it did was remain flat? As a comparison Google went up $15.34 on the first day.
I'm thinking some facebook employees just got wealthy and will deposit their checks as soon as possible.

 

[Toro]

I used to trade IPOs. Usually when the stock opened like this, it was significantly lower in the near future. The only caveat is that markets in general have been just awful, not just being down but how they're trading. Perhaps today's weak trading in FB is just reflective of that.

 

[hjmick]

No change after the open, seems like a Faceplant to me...

I guess only time will tell.

 

[iamwhatiseem]

I have had a 401k in the markets since inception. In the mid 90's I built up enough cash to begin investing outside of that. In all of these years the first time I cashed out was in 2008. I had been watching out for it in 2007, I run a business so I was seeing negative changes before it affected the markets. I got out at a time of amazing luck...and I got back in early enough to do well...REALLY well in 2009.
But...again as a businessman, by early 2010 I knew the love is not being felt in the real world. It was clear to me that an incredibly fast bubble was being formed. So I got out - again. And have been out ever since.
My point? As you know, there are 100,000's of people exactly like me sitting on the sidelines because we have no faith in the markets anymore.
Look at the numbers today...look at the numbers May 2011. All of the gains in the last 12 months has just been reset.
I am waiting on 10,000. I am not alone.

 

[tenthertoo]

"The mother of all bubbles"

 

[Trajan]

love it, so it begins...

Facebook brags on its home page that it's "free and always will be," but it quietly launched a test in New Zealand this month for an option called Highlight that gives users the chance to pay two New Zealand dollars (about U.S. $1.50) to ensure that friends see their post by keeping it toward the top of the friends' feed.


Crovitz: Will Regulators Unfriend Facebook? - WSJ.com