Posted on 05/29/2012 1:59:06 PM PDT by SMGFan
Faceplant insiders knew this all along.
The trick was to price the IPO at $38 and not 38 cents and they did that pretty well.
So it has lost about 36% from its high of $45/share! I’m thinking that the price will settle out in the $10-$15 range.
Countdown to the bailout, reparations and the shut down of the free market system to prevent this unfairness in the future - it's for the children, donchaknow?
I’ll probably some at $20
. Given reverse stock splits, stock price decline potential is infinite. Eventually buyers & sellers will determine where to dance with the enigma .
I think everyone should cover their shorts in the early AM.
Or Faceplant.
Is this a login company or a logging company? Timber!!!!
But the Government will bail them out. “Too big to fail” has become the facist mantra.
IMPO -- The stock was and is a total fraud and an outrageous scam and the principals ought to go to jail after spending millions in legal fees defending criminal fraud charges. Not to mention all the civil litigation fees the greedy bastards will probably probably spend.
LOL !
Though I feel bad for the saps who got sucked into this, (especially since the bad guys assuredly made a mint), the only good thing out of this was the state of California thought the were going to get eleventy billion dollars in capital gains from this (and spent accordingly), and now they get the shaft.
To be honest, I do think facebook has the ability to create a new revenue stream by moving from tailored adds to outright data mining accounts to sell to the highest bidder.
I think I might buy if it drops down in the $12 range (though I will never have a facebook account).
In terms of the rise and fall of the $value as a company, it could become this decades “AOL”, and on a lot shorter time frame.
What is FB real plan - to use the IPO capital to buy multiple additional media venues, as FB tied/aligned/associated properties to which it can extend the sales-tying of you to advertisers - ‘cause face it, real social networking is not about looking for the next ad to click on.
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