I Warned You
I was just going to post on the fact that Facebook had already dropped to $31/share , but the story today is even more brutal. CNN gives us a round-up in Oh, Zuck: Facebook’s bumpy start just got a little worse. [That’s their headline.]
See, you have to be in the corporate media to say things like that, because bloggers wouldn’t use expressions like “cluster-Zuck” or say that small investors got “Zucked” because the M$M civility police would be all over them while passing out the ammonia capsules at the fainting coach.
NASDAQ, the technology exchange, couldn’t even keep their computers on-line for the IPO, and now you have law suits, investigations, and outrage.
Oh, well, just another SNAZU. [Hey, CNN started it, don’t blame me.]
6 comments
Heh. My prediction is $3/share by the end of the year. What’s yours?
– Badtux the Prognosticating Penguin
It should sell for under a buck but that sounds about right with a reasonable PE ratio, assuming nothing significant comes of all of the investigations, which I don’t expect to have any real impact no matter what is found.
It’s a good thing I’m not the tin-foil type or I might wonder why the NASDAQ system went down when the volume wasn’t really that unusual, even with an IPO. It’s not as if they haven’t had a lot of them over the years. I mean, no one would imagine an insider doing something to stall having to pay $38/share to support the price when things started down.
They should have opened at $10 which would have given people more entry at the bottom and Bernoulli’s utility would come in, as the ”utility’ would be greatly enhanced, i.e. there would be more suckers to fleece and they wouldn’t think to add a sell price on their order. Just another way to cheat the ‘little people’.
Facebook looks like it peaked last year, so, unless it can become the thing to use in Asia, it will fade away in a few years like so many others.
So you’re saying Facebook is the new MySpace? 😈
I’ve thus far avoided Facebook. I don’t see how it can enhance my professional standing in my field (I do have a LinkedIn account in my professional capacity), and I have better ways of communicating with friends and family.
Hey, the thing started off as a ‘stock book’ on women in Boston colleges and universities [the ‘Face’ referring to their pictures] that barely evolved. It certainly isn’t related to The Well, more like Myspace out of Geocities. 😉
I’m just not a joiner unless it is required for business purposes.
Can one say “prognosticating” in the M$M? Sounds obscene to me…
That only applies to Fox which is antignostic and fact intolerant, but refuses to be vaccinated.