chet
Footballguy
NASDAQ volume is double counted
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Facebook IPO thread (2 Viewers)
- Thread starter shader
- Start date
Agree.The retail buyers are the 20 something's who use fb, and they dont have the money to pump it.
Depending on timing if you were in at 38 and out, you had anywhere between 5% and 13%, why not buy?
Did you dump or are you still holding out for the pie in the sky 76 price?
I am not planning on flipping this.I will do the same thing with this as I did with Google back in 2004. Buy in at opening price and be patient. I made back 100% of my google investment in about 9 months by selling 45% of my stocks. I am still sitting on 400 of my initial 1000 GOOG after selling 150 of them back in late 2011. I very seldom flip, I am in facebook for the long haul.
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And if he wants he can buy unlimited shares now for the same price or less.
Fat Nick
Footballguy
So you edited this out that if it dropped to 38 or less you'd buy more....just curious if you changed your mind on buying more or just on posting it. I don't disagree with your philosophy on the above, and agree, I'm just curious.
shader
Footballguy
I guess if I sold immediate it was a quick couple bucks. But I would also be heading to lunch extremely depressed. Also, if it keeps dropping, there will be some people who get screwed on the IPO and weren't at their desks to immediately sell. If I was in a meeting, I might have missed the quick opportunity to sell.
No, I actually put an order in at $35, so I didn't want to keep that there when in fact it was fairly lower then 38.
Fat Nick
Footballguy
Gotcha. Honestly, my take is that if this thing falls below IPO price, it's gonna fall substantially below IPO. At this point, it's the banks and folks that bought it initially at $38 holding it there...if it goes below that it means that even the people who were in at 38 are losing faith.Anybody know if there's a mandatory holding period for Facebook employees?
RedmondLonghorn
Footballguy
As a lot of people said right from the start, this wasn't going to be a huge one day pop type of IPO. That doesn't mean FB equity can't do well over time. Of course, it doesn't mean it will either. All it means is that the bankers and capital markets guys did a good job of pricing the issue.
RedmondLonghorn
Footballguy
Why?
Question, is there a reason it stayed at exactly 38 for awhile and never went a penny lower?Do certain funds make sure there is no way it goes lower then initial price on ipo day?
shader
Footballguy
I'd bet a lot of investors are people who rarely invest, and were sure FB was going to explode. I just feel bad for them.
bicycle_seat_sniffer
Smells like chicken
a couple hours of trading and your sure people who got in today are doomed to lose money? we will see
Norman Einstein
Footballguy
bought 2k at $38 a few minutes ago
hxperson
Footballguy
Not funds, but dealers. Likely some winks and nudges going on around that. Dealers are supposed to support their deals - that's what they got paid their hundreds of millions to do. They are also motivated to do so for the client relationships (more of an institutional than a retail issue).Totally agree with the sentiment that a full fill is a bad fill. But I think it will settle higher over time.
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krista4
Footballguy
They have tiered lock-ups; looks like employees' lock-ups expire after 150 days. (So in other words, yes, they have to hold for 150 days.)
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ffldrew
Footballguy
There is a 90 and 150 lockup
Sarnoff
Footballguy
Thought I heard a story on the radio about a guy who never traded much cashing in his 10-year-old-daughter's college fund because "it hasn't grown enough yet to pay for college, but if I put that money in Facebook, it'll be worth enough she can go to any college she wants and have lots of money left over"
krista4
Footballguy
The 90-day lock-up only applies to the current selling shareholders (other than Zuckerberg). The poster above was presumably asking about everyday employees, who have a longer lockup. There are a few other lockups that are longer than the 150 days as well.
ffldrew
Footballguy
CNBC is saying that NASDAQ is messed up - it was taking 20 min to confirm so everyone backed off - also underwriters are obligated to support the 38 price.
RedmondLonghorn
Footballguy
No need for there to be winks and nudges. After-market stabilization is a legitimate and expected role that the underwriters play.
hxperson
Footballguy
Yeah I guess what I mean by that is that while its expected and legitimate, its never written into the deal docs.
RedmondLonghorn
Footballguy
Right. Absolutely.Given that this is the highest profile IPO in at least five years, I am sure that Morgan Stanley and the other underwriters are absolutely committed to making sure it doesn't break deal price immediately.
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Norman Einstein
Footballguy
i think options start trading a week from tuesday
Norman Einstein
Footballguy
there was likely a bunch of people with orders sitting at $38 waiting to be filled...(mine was)
Dr. No
Footballguy
why?isn't it their fault for getting in on an over-hyped sucker play?do you feel bad for people that lose at the casinos?do you feel bad when you take money from someone who is horrible at poker?do you feel bad for people who take payday loans or make loads of other bad financial decisions?I feel bad for someone if they get stolen from, get bad beated with a health problem, etc.But a fool and his money are soon parted... and if I felt bad for everyone who made a poor financial decision i'd probably off myself because so many people make horrible decisions everyday.. at least a good % of the people piling money into $FB probably had some money to lose.
Dr. No
Footballguy
:mansion: still in play?
doowain
Footballguy
I'm gonna need a :mansion: just for all of my money to live in.
150 minutes after the google opening masion wasn't in play either.
Sarnoff
Footballguy
We're rich!!!
Mystery Achiever
Footballguy
Don't know about shorting, but options trading hasn't started. I heard the date, but don't remember probably a couple of weeks.I definitely underestimated the impact of the larger share offering. I was only able to get 100 shares of Teavana and am pretty sure there was more interest in FB than TEA. It is those "sliver" deals that get the 60-70% pops.
bagger
Footballguy
Seems like this is crazy expensive from a PE perspective. especially when I don't see how much long term value a site like this has that can easily be replaced by the next big thing.Maybe a year plus from now when everything settles I will re look at it but this just seems like gambling at this point.
Fat Nick
Footballguy
I agree with your gambling point, but I disagree with the easily replaced point...Facebook's move to the timeline layout was honestly ingenious...simply because it put the "history" that is on facebook in perspective. I was clicking back through my timeline, and I got to 2007, when I first joined. I found the entry where my wife and I became facebook friends. I could go back and read status updates from a much earlier time that reminded me of things that I had forgotten about. It really made facebook not only a social media outlet for your current life, but also a chronological record of your past as well...that's not easy to just walk away from. I think that it won't be as easy to switch to the next big thing as it was for Myspace because facebook has history.
Mystery Achiever
Footballguy
A casualty of the IPO seems to be Zynga. Fell 13% after FB started trading and was halted. Gained back about half of that, but seems to be halted again.
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