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Its the wall street people, Its cause there saying that (it was on tv here ) hold off on facebook as google is building bigger revenue , i mean maybe facebook should start a search engine imagine that lol.
A $12 stock sold for $38, thats it in a nutshell.
Just heard on the news that Facebook is getting sued over the IPO scandal.
soon you will see a subscribe to facebook for $9.99 a month lol. then the price will go up.
@allfreechips 240229 wrote:
soon you will see a subscribe to facebook for $9.99 a month lol. then the price will go up.
Time to start on a new social networking site then to counter it ,
would be a smart move to have a social network in the background that you could advertise for free as soon as facebook does something like that.maybe everyone would go back to myspace lol
@fonzi 240228 wrote:
Just heard on the news that Facebook is getting sued over the IPO scandal.
Yep… Saw that, too. Apparently thousands of share holders are suing. Zuckerberg must really be enjoying his honeymoon
From what I understand, people are suing because they lost money on the Facebook IPO. They were all hoping they would buy cheap at $38 and it would go to $70ish.
Well.. welcome to how stocks work. They are released and then they correct themselves and settle at a level where the market thinks it should be.
The people suing are trying to find any reason possible to show something suspect was going on. Zuckerberg sold a bunch of stock when the IP went public, (still owns 57%), and comparing to how much they sold for, and how much they are worth now – he saved himself 178 million dollars.
The only reason people could sue Facebook is if the 2 banks who handled the IPO and Zuckerberg, knew something about the stock price which would cause it to drop and didn’t tell the public.
But I think most of these guys are suing because they expected Facebook to be a gold mine stock to make them rich beyond their dreams after the stock went public.
Get with it people, stocks are traded and made public to generate capital for the company so they can operate and do their business’y things.
The issue is that the price may have been set high and insiders knew it was, and made out quite well. If they prove it was manipulated then this is beyond a simple stock loss.
