I don't cheer investors or traders losing money, but nothing would make me happier today than to see this thing close below $38. The whole thing just seems like an over-hyped ponzi scheme.
EDIT: Stay on target...stay on target
thanks, Rock. In the few years I've been trading, I've never had this happen to me before. Not knowing if my buy went through and it's almost market close????
Just checked the Home page and my buy went through now. WOW. Got it at 39....
The order was executed at 11:49 this AM. It is now 3:55. Talk about lag!
wow.... that's crazy! are you planing on holding this? short/mid/long??? or in and out for trading?
Not sure as of yet. I mean it practically took all day for me to find out if I even got FB shares. I guess I'll see what happens next week. I have a feeling it will go below 38 too.
If it were to go up quick in the next few days, sure I'll do a quick in/out. If it goes slow going up for a few weeks then maybe I'll hold for long. Of course would be nice if it goes up
like AAPL or GOOG, but who knows? See how earnings are for the next few quarters.
Hey all, here's my take on FB stock after reading through the news and monitoring it:
It was overvalued when it opened at $42 on a Friday.
"The stock opened higher over 11% at $42 and then moved up as high as $45, but within few minutes the stock lost most of its entire gains and touched the IPO price several times. During the late morning sessions, the stock made an attempt to recover and bounced back to $41.50, but at the end the stock closed at $38.27. The positive thing was that the stock never fell below its IPO price."
Still, it was optimistic that by trading it on a Friday a rally might take place but glitches occurred as well when trading.
That caused some worries over it and with the current economic data, traders might have sold the stock to prevent further losses probably on a "stop-loss" command.
Investors also believed that it was fairly valued, and did not buy (investors usually invest when stocks are undervalued).
Nevertheless, Facebook closed near to its IPO price of $38. So your close to buying it at the IPO price should you decide to invest!
But FB is due to face a $15 billion lawsuit, which might also cause panic and thus the devaluation of FB stock, my advise? Put it on your watch list.
Ya, I gotta assume the underwriters used up a ton of their emergency buffer to keep her above 38 for the time being. Just a matter of time.
I've explained this before.
Picture the billions of dollars worth of private investment that's been in FB for the years leading up to today's IPO. They sell into the IPO opening as retail is buying so they're not "supporting" the move. It's all retail at that point ... like someone jumping up to catch a ball thrown over a cliff in a Looney Toons episode. To compound matters, the Nasdaq didn't do itself any favors with that sloppy management of today's action which more than likely spooked and deterred some of the retail public. I also overheard that there were many FB insiders with shares valued around the $1.10/share range ..... they had every reason to sell today.
Institutional Money vs. Retail money ..... its always gonna be like this. It's the nasty truth of the market. Retail buys the hype and institutions sell it ..... only to return to the feeding grounds once retail panics and in a huge flush cheap shares become available.
I bought 300 shares and then a little bit later I sold 300 shares. So in my Merrill Lynch activity screen I have one buy and one sell. About three hours later a second sell showed up, also for 300 shares. The price on that batch was about 10 cents less than what I sold it for.
Any guesses how Merrill Lynch will fix that mess? Hard to sell 600 shares of a stock that you only bought 300 of. Will I get robbed by 10 cents because they double sold my stock?