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| Thread ID: 124822 | 2012-05-21 19:01:00 | Facebook Faceplant | SurferJoe46 (51) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1276630 | 2012-05-21 19:01:00 | (Reuters) - Facebook shares sank on Monday in the first day of trading without the full support of the company's underwriters, leaving some investors down 25 percent from where they were Friday afternoon. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing but does little for Facebook, whose lead underwriter Morgan Stanley had to step in and defend the $38 offering price on the open market. Without that same level of defense, its shares fell $4.50 to $33.73 in the first 1-1/2 hours of trading. That represented a decline of 11.8 percent from Friday's close and 25 percent from the intra-day high of $45 a share. "At the moment it's not living up to the hype," Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago said, adding that some people may have decided to hang back and buy the stock on the declines. Looking good here! LINK::: www.huffingtonpost.com |
SurferJoe46 (51) | ||
| 1276631 | 2012-05-21 21:54:00 | More news::: First, shares in the world’s largest social network are tanking Monday morning after an opening-day pop failed to materialize last week. They’re down nearly 12 percent to about $33.75 as of this post. The Menlo Park company’s shares began trading at $38 Friday in one of tech’s most anticipated IPOs. Although a few expressed disappointment, many analysts and investors said Friday that Facebook’s first-day closing price of $38.23 meant that the shares had been priced correctly, and that time would prove its value. But there were reports that Facebook shares would have closed lower had underwriters not stepped in to prop them up, and analyst Brian Wieser of Pivotal Research Group told Reuters: “Investors are increasingly aware of the risk embedded in the stock price.” Those risks, he said, include rising costs and uncertainty about ad revenue. |
SurferJoe46 (51) | ||
| 1276632 | 2012-05-21 22:34:00 | Will it do any better now that it's proposed to change it to a kindergarten? | R2x1 (4628) | ||
| 1276633 | 2012-05-21 23:12:00 | ...was bound to happen. When they only pull in ~$1Billion a year in ad revenue, have very little assets, that's basically $95 Billion in "goodwill" or similar... And over 50% of people don't "trust" Facebook, so you've really gotta wonder! | Chilling_Silence (9) | ||
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