Not much of a pop. Opened at 42 and down to 40. I know a lot of employees and investors are trying to get rich, but I expected to see a huge pump and dump.
The existing stock owners are the only ones that are going to make a windfall here. I'm not sure if Facebook has enough upside left to be the most valuable company on the planet. They don't sell many ads and don't make much real money for how they are valued. I see a huge potential bubble here, it reminds me of the dot.com days of the 90's. This is an IPO that I'm passing on.
I'm seeing if I can make enough to buy a sack of crawfish. It is mos def not an investment. I just like to gamble.
I have placed token shares on risky IPO's before just to be sure to track them in case some opportune buying opportunity happens . . .
My mom told me she went in for 100 shares. That didn't give me a warm fuzzy feeling. Her "advisor" didn't have much to offer when she asked for his advice on whether to buy or not: "Some people say buy, some people say don't buy. What do you want to do?" I told her that I thought it wasn't a good long term investment.
I would get out as soon as she can cover her costs. 2 years from now, I see it being worth about half of what it is now. I think the P/E is somewhere around 187 right now? That is absolutely nuts. FB can't sell that many ads.
Good calls guys. I have practically ZERO working knowledge of stock markets/trading. I read today there are a lot of lawsuits being filed. I can only hope it might end with FB being shut down though I doubt that could/would happen. I am not even sure exactly why there is a "fury". Can someone explain in a short version? http://www.yahoo.com/_ylt=AiL7ZGuYtpV1sYmuSHJZsO2bvZx4;_ylu=X3oDMTVkNTRhZTk4BGEDRnVyeSBvdmVyIEZhY2Vib29rIElQTyBncm93cywgbGF3c3VpdHMgbW91bnQEY2NvZGUDcHpidWFsbGNhaDUEY3BvcwMyBGcDaWQtMjI5ODE5MwRpbnRsA3VzBG1jb2RlA3B6YnVhbGxjYWg1BG1wb3MDMgRwa2d0AzIEcG9zAzEEc2VjA3RkLW53cwRzbGsDdGl0bGUEdGVzdAM3MDEEd29lAzEyNzg4Mzc2/SIG=13mckfn7m/EXP=1337881664/**http://finance.yahoo.com/blogs/breakout/fury-over-facebook-ipo-grows-lawsuits-mount-150039330.html
The allegation is that the stock is not worth the $38 asking price but banks/brokers were telling their everyday customers that it was a good buy and to invest in it.
