Wouldn’t surprise me that the Treasury Dept has purchased Facebook stock.
A huge FB IPO was supposed to convince us that the whole economy is recovering.
Is it possible that many sell orders were sold in order to keep it at $38/share when trading ended that day?
I just checked. Our order was not filled and apparently cancelled by the broker (hubby said that it was the right procedure). So, we will refigure what to do.
They used to say the markets served to allocate capital for the production of tangible products and as such they served a real purpose for society.
Today the primary mission of the capital markets is still “allocation”, except it is about allocating extraordinarily generous compensation and fees to a group of special insiders in a club that runs a trillion dollar betting casino. Compensation levels have no bearing on the value they create. They just suck it off the top of our economy because they can.
It’s now about making money any which way they can for the financier club; and not for allocating capital to the creation of facilities of production. It’s a gang of insiders who pump, dump and con the public and when they screw up, taxpayers have been put on the hook by a Congress that they own.
The FB IPO is just more proof that P.T. Barnum was right.
Facebook’s real problem lies with its architecture. Far too many instances of MySQL Far too many.
The intelligent investors have likely already sold their Facebook stock.
I know I would have.
So does that mean those who bought stock aren’t getting it?