Anybody gonna buy Facebook Friday?

Discussion in 'General Discussion' started by geds, May 16, 2012.

  1. garydude

    garydude Member

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    I'm just wondering if there will even be a Facebook in 5 or 10 years.

    Remember My Space? What's to prevent Facebook from becoming obsolete by the next big thing?
  2. rcairflr

    rcairflr Active Member

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    I doubt if they will disappear or become obsolete in 5-10 years, but even if they do, that doesn't mean there isn't money to be made on them over the next 5 years. Should be interesting.
  3. raven818

    raven818 Well-Known Member Supporting Member

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    Past:

    Email is actually Echo Mail updated.
    The Internet is an upgrade from Bulletin Boards.
    HTML an upgrade of DOS.
    Browsers eliminated the need for the average person to write HTML

    The list is larger, but...

    Who would have thought that their browser would have ever been Open Source ( firefox ). Just write it to suit your needs.

    Facebook, IMO, is just another step in the progression. Here today, something better comes along, and gone tomorrow.
  4. DCrunch

    DCrunch New Member

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    I put in a buy order Friday morning with a limit of $44. The order was not filled. I will try again Monday.
  5. rcairflr

    rcairflr Active Member

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    I'm not sure why you would put a order in for $44 when it closed at just over $38. IMO, your lucky your order wasn't filled.

    If I were you, I wouldn't be in a rush to buy, wait for it to correct lower.
  6. swiftman

    swiftman Member

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    GM removed their advertizing from FB the other day. Said it was ineffective.
  7. Bobitis

    Bobitis Guest

    Doesn't suprise me in the least.

    People are stoopid. I've never clicked on an advertisement on FB.
    I don't go to FB to shop. :rolleyes:
  8. rcairflr

    rcairflr Active Member

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    So what does that mean? GM isn't even capable of surviving without your taxpayer money.
  9. permafrost

    permafrost Active Member

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    All that hoopla and nothing but a fizzle. Zuckerburg should survive, though. That was my first concern. Poor young fella.:eek:
  10. geds

    geds New Member

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    As the TFF wise sages predicted - Facebook dropped another 11% today while the technology sector rose 2.8%. So far, the owners of the stock that dumped it onto the market have done well - the suckers they sold it to have lost their shirts!
  11. DCrunch

    DCrunch New Member

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    The order wasn't for $44. $44 was the max I wanted to pay. It was a Limit order versus at the Market. So I could have got it at any price up to $44. Had the price gone to $100, the order probably wouldn't have been filled. With it now at $33 or so, I'm glad it didn't get filled.
  12. rcairflr

    rcairflr Active Member

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    The stock will sooner or later find it's bottom, at some point I still believe this will be a good buy and money to be made on it.

    There were problems with the way the whole transaction of the IPo was done. Everyone involved wanted the stock to debut at the top dollar value, leaving no room for the buyers of the stock to make any money. This looks very bad on the owners (Mark Zuckerberg) and underwriters.

    Also Goldman Sachs and Morgan Stanley lowered their financial projections on Facebook, also a blackeye on the company.

    For the Facebook stock to go up from here, they will have to show good profit in the coming quarters.

    For me, I love seeing it go down, because I will be watching it closely and will be a buyer at lower prices.
  13. Caneman

    Caneman Active Member

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    a financial analyst valued the stock at $11 per share based on a 10% revenue growth every year... it closed today around $31, it has a ways to go down
  14. Skypilot

    Skypilot New Member

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    A high of 45 today 31 well?????????????????
  15. mjp28

    mjp28 Well-Known Member

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    Yeah he did the IPO, got married the next day and has lost a few billion (paper loss only).

    It was a NASDAQ disaster!

    Mkt cap 66.28B <---- a huge elephant
    P/E 99.22 <--- the price/earnings ratio! WHOA, bad number, 7-15 is good.

    And DAY 1 disasterous trading:

    A Facebook Inc. (FB) (FB) investor sued Nasdaq OMX Group Inc. (NDAQ) (NDAQ) claiming the stock exchange “badly mishandled” trades following Facebook’s initial public offering, delaying trading and failing to cancel orders when requested by customers.

    Phillip Goldberg, a Maryland investor, said in a complaint filed today in Manhattan federal court that he tried to both order and cancel requests for Facebook shares through an online Charles Schwab Corp. (SCHW) (SCHW) account the morning after the May 17 IPO. He is seeking to represent a class of investors who lost money because their buy, sell or cancellation orders for Facebook stock weren’t properly processed, according to the filing.

    “Orders placed by investors seeking to purchase Facebook shares during the first trading day often took hours to execute,” Goldberg said in the complaint. “In the meantime, the investors seeking to purchase those shares had no idea if their trades had executed, and, accordingly, had no idea if they owned Facebook shares at all.”

    Goldberg, who claims Nasdaq acted negligently, is seeking unspecified damages. The U.S. Securities and Exchange Commission has said it will review the opening day of trading in Facebook shares on Nasdaq. The exchange has blamed poor design in the software used to drive auctions in IPOs.

    Public Trading

    “On May 18, 2012, Facebook began public trading on the Nasdaq. Trading began at the IPO price of $38 a share, which valued the company at approximately $104 billion,” according to the complaint. “While Facebook’s first official trade should have begun at 11:05 a.m. on May 18, that opening was delayed due to malfunction in Nasdaq’s design for processing order cancellations. This prevented certain trades from processing properly.”

    Robert Madden, a spokesman for Nasdaq, didn’t immediately return a call seeking comment on the suit.
  16. raven818

    raven818 Well-Known Member Supporting Member

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    IMO, Zuckerburg created all the hoopla himself ( had it done ), made out like a bandit, and will wind up before congress in, say...two years, maybe?

    I hope he got a pre-nup.
  17. jack404

    jack404 Former Guest

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    Got some at $20:04 not a lot , just a taste to be inline for the next issue , theres gonna be a big tank ( maybe 20% worth ) dunno we'll see ..
  18. bountyh

    bountyh Former Guest

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    I believe that in the long term, Facebook will be every bit as successful as Myspace.
  19. bountyh

    bountyh Former Guest

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    I believe the law is that he will have to pay income tax on the "paper gains" he made at the IPO exercise. Could be very expensive.

    As for what his wife gets: they got married after the IPO, so she gets nothing from that. You seriously think Zuck would have let anybody take half of that?
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