Posted on 05/22/2012 7:15:25 AM PDT by C19fan
Facebook immediately fell below $32 a share at the opening bell.
http://www.google.com/finance?q=fb
The IPO was priced for perfection. In other words, the risk they may not reach their goals was shifted from the sellers of the business to the saps who thought there were getting in on the ground floor. A $100B capitalization.... Farrell at the old Magellion Fund used to say he liked to pick 10 baggers, stocks that may go up ten fold, now let us say he was evaluating this offering....would he buy as that would have resulted in a market cap 1 trillion stock? Perhaps with massive inflation in might get there but the point is if it did, don’t bother worrying about any money you have as it would be expensive wallpaper. No the sellers got out of dodge with the plunder and the dopes are left holding he bag IMO.
“the saps who thought there were getting in on the ground floor...”
They got on at the 20th floor and the elevator cable broke...
“Vanity: Facebook Down over 6% at opening - below $32 per share”
Slow slide before the panic selling ensues....
Perfect picture. Obama is facebook. All the hype but the Obama stock has been dropping for 3.5 years now. It’s close to penny stock...
When it hits $7.00, buy and be in on the comeback into the $15-20.00 range.
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