It's jittery because people are selling ...
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Boring it's doing OK now. Should have piled in when it dropped back to $38.Originally posted by MaryPoppinsOriginally posted by vetranComment
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Correct, generally all IPO's go up or down on release...Originally posted by AtW View PostI didn't say it was your ******* fault, I said I was blaming you!Comment
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wow, from 653m shares, 337m have traded today... and there is still about 4hrs left of the trading day!I didn't say it was your ******* fault, I said I was blaming you!Comment
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MF bought 140 million - or so he'll have you believe if they don't tank!Originally posted by scooby View Post
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Don't be stupid. I couldn't borrow that much on credit cards. Only bought 20 million. Got 'em for $5 dollar from a geeky bloke in Palo Alto.Originally posted by SupremeSpod View PostWhat happens in General, stays in General.You know what they say about assumptions!Comment
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21.01 Ding ding! The closing bell has sounded out on Wall Street. The shares have closed at $38.23.
linky
So Facebook shares have closed up - but only just. The 0.2pc gain was not what Facebook's army of advisers were plotting for the company's debut. There will no doubt be recrimination and finger-pointing as to why Facebook did not enjoy the sharp increase enjoyed by other social media companies that have floated over the last 12 months.
A penny for Mark Zuckerberg's thoughts at the moment. Going public has never been the 28-year old's main aim so perhaps he may not be too concerned. At the company's outdoor gathering this morning at its headquarters in Menlo Park, California, he reminded his employees that "going public is a significant milestone in our history, but here is the thing, our mission isn't to be a public company but to make the world more connected."Behold the warranty -- the bold print giveth and the fine print taketh away.Comment
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Ahh he just wants to make the world a better place, bless him.but here is the thing, our mission isn't to be a public company but to make the world more connected."
I wonder how people will view him when the price inevitably slides? A money grabbing corporate cash out shyster?
Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave JohnsonComment
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You do realise lots of people really aren't primarily motivated by money, right? Zuck was offered multiple $billions for FB in the past and said no. I think he's an arrogant jerk, but I also think he genuinely wants to build FB for its own sake rather than for cash.Originally posted by gingerjedi View PostAhh he just wants to make the world a better place, bless him.
I wonder how people will view him when the price inevitably slides? A money grabbing corporate cash out shyster?Originally posted by MaryPoppinsOriginally posted by vetranComment
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So the underwriters had to buy most of stock then -
"A revised S-1 filing made with the US Securities and Exchange Commission disclosed that Facebook’s five key banks ended up owning $13.86bn. Morgan Stanley, its lead adviser, ended the day owning 162m shares, worth £6.16bn, followed by JP Morgan and Goldman Sachs, which ended the day with $3.2bn and $2.4bn holdings respectively. Bank of America Merrill Lynch and Barclays Capital each held $1.04bn stakes"
Banks jittery after shaky start to Facebook IPO - Telegraph
So basically Marc sold his stock to banks who were ready to pay high price - now it's the banks problem, they can't even fire him or even force him do anything he does not like because of two class share structure that gives him full control
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