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b_b · 4597 days ago · link · · parent · post: Facebook: The stockmarket has lost no time in unfriending the social network
I predicted on IPO day that FB would be down to $19 by the end of the year. It seems they're months ahead of that prediction, given that it could reach that mark by the end of next week.
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Damn. If there were only some way we could have bet on this and made money... Only kidding; I'm pretty sure the short sell market was saturated right away. Even $13 probably is over valued. I said $19, because I thought that every time it slipped significantly that some new investors would get the it-can't-go-any-lower bug and artificially prop up the price a little while longer.
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JakobVirgil · 4597 days ago · link ·
people were shorting Zygna as a proxy at the being. Which is funny cuz they actually have a revenue model that makes a little sense. i.e. people will pay for worthless virtual crap for their fake farms.
lessismore · 4597 days ago · link ·
Yeah. I recall your post. Most folks in here were very cognizant about the scam that was the FB IPO.
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The amazing thing was how many people bought this shit to begin with. Its not as if they had a hard time getting people to buy into the IPO. I have a guess that Goldman probably steered a lot of its investors who otherwise would ave stayed away into the stock, because they knew they would make huge fees just for selling it. I don't know anything about the world of big investments, but is it known who, exactly, were the main buyers, and why they thought this was a good investment? If it was mainly speculators hoping to flip the stock on day one, then all I can say is, "Haha".
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lessismore · 4597 days ago · link ·
Their IPO wasn't really an IPO. Their shares were already active traded prior to the IPO in secondary markets.