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After Friday's nearly flat close and Monday's 11 percent
plunge, Facebook shares closed 8.9 percent lower at $31 on
volume of 101 million shares. At that price the company has shed
more than $19 billion in market capitalization from its
$38-per-share offering price last week.
It was massivly overpriced. The $38 a share was to allow the initial investors to cash out and pocket as much as possible. Most IPO's fall within days of its offering which is why they dont allow shorting to take place.
The price was a joke. I knew it would rise at first but it wasn't worth buying in because it was clearly over priced and going to drop like a rock. Facebook hits its prime and is now on the decline with competition moving in from other sites. More people I know are leaving facebook than joining it. Companies that are good at making and selling things don't even have that high of a price.
That's not surprising, what exactly does Facebook produce? When was last you went to the store and bought a Facebook product. Has anybody ever seen a facebook factory?
Just keep waiting till the stock drops to $9-$10 bucks or less then pick it up cheap and sell it for a small profit...Remember buy low & sell high and never buy a IPO on a company that neither makes, sells or builds anything.
Just keep waiting till the stock drops to $9-$10 bucks or less then pick it up cheap and sell it for a small profit...Remember buy low & sell high and never buy a IPO on a company that neither makes, sells or builds anything.
Are you saying Facebook doesn't sell anything? How does it make money then?
That's not surprising, what exactly does Facebook produce? When was last you went to the store and bought a Facebook product. Has anybody ever seen a facebook factory?
Is there a Google factory? What does Google produce?
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