http://finance.yahoo.com/blogs/dail...ebook-revenue-estimates-middle-133648905.html They sold billions of dollars worth of stock and then said "Opps, we were wrong...facebook doesnt make that much money"
new american standards...or way of life if you will. owners are selling website,where people do nothing ,but talk to each other about what they do thru the day. and it's worth a billions of dollars for whatever reason. owners are using legal(written by useless politicians) tax law to NOT to pay a dime on their profits. WS is doing their business as usual-create a hype,lie and overestimate and then dump this pile of useless s**t on public. cause they can. cause they are above the law. meanwhile-even exchange f**d up some of the buyers on the middle of this pathetic process.. way to go! USA! USA! is there is any honest people left in this country? is there any honest politicians who have the balls to prosecute and put in prison those who is in charge for this mess? cause it's a fraud. those, who create that 'crisis' couple years ago? cause what they did is fraud too.nope...it's all fine and dandy and everyone smiling and happy.
Another fraud. Syndicate underwriters took another look at Facebook a few minutes AFTER the IPO and decided their initial forecasts were totally off and decided to cut them??? Bullshit. They cut it days, or weeks before, and leaked it *during* the IPO, so they could dump their inventory on the public at a premium before the stock tanked.
isn't this inside info..? i mean big institutions acted on knowing facebook real revenues while everybody else didn't know.. i just guess today this is call an "error"...
Call it whatever you want.... this will be a MONSTER class action suit against Facebook/MGS, and anybody that held it during the first few days of issue will be eligible to collect a few bucks back in a few years. The NASDAQ fuckup with order reporting is another situation.
Not insider trading. Just typical inv Bank sh*t in 2012. They knew fartbook was a turd, but they still packaged it up, as that makes them commissions.
The Great Facebook Crash is gathering momentum to the point where it could be another signpost on the road to the end ⦠of something. âHow Facebook could destroy the U.S. economy,â writes MarketWatchâs Paul B. Farrell. Mr. Farrell is given to such hyperbole, but in the case of Facebook he may be on to something. But what, exactly? If Mark Zuckerbergâs US$38 IPO had jumped to US$45 a share in later trading, Wall Street, private-equity players, small investors and the California tech community would all be hailing another triumph of American public-market capitalism and the dazzling brilliance of the kids whose characters in The Social Network created a revolution. Everybody gets rich, and nobody had to think about it too hard. Right now, however, Mr. Zuckerberg and Facebook are in a downward spiral. Everything about the IPO, which once promised to be the best and biggest, is rapidly turning into the worst and ugliest. Everybody who had a hand in the IPO or even a little finger is getting hit with blame and accused of bumbling, if not malfeasance. Regulators are calling for some kind of review of Nasdaq, which botched the opening trading, and of Morgan Stanley, whose analyst allegedly issued a last-minute revision of Facebookâs revenue picture that was seen by institutional investors but not the millions of average investors who had lined up for the US$38 bargain. The Wall Street Journal, meanwhile, reported that many investors were somehow forced to take more Facebook shares than they had signed on for. In short, the Facebook IPO phenomenon has turned into a disaster that could have profound implications. Once again, itâs Wall Street and big money versus the small investor, the loaded financial system stacked against Main Street and the economy. The words of Forbes magazine publisher Rich Karlgaard â in forbes.com on Monday â could spark a revolt on their own. Among other things, Mr. Karlgaard said Facebook â by its own design and under the influence of Wall Street and its private-equity cohorts â left nothing on the table for IPO investors. âThe insider pig pile of PE [private-equity] firms and celebrity Silicon Valley angels took it all.â In itself, the fact that insiders hoarded value for themselves should be no crime. Outside investors who piled into the Facebook IPO at US$38 a share knew â or should have known â exactly what they were getting into. Flying blind along with the wave of social media hype â and seeing Facebookâs 900 million followers as a sure profit generator that can only grow â is a dumb investment strategy. To turn around now and blame Wall Street greed for your failure to get the instant post-IPO pop you expected is your problem, not Morgan Stanleyâs or Nasdaqâs. Itâs a stock market, not an elementary school game in which everybody is guaranteed to win something. Perhaps even more of an issue is whether the Facebook flameout signals the existence of another tech bubble. The social-media mania may be less than itâs cracked up to be, and sometimes such discoveries are made only when disasters occur at the peak of activity and _credibility. As a result of Facebook, Wall Street may be in worse repute now than before, with investors, regulators and politicians doubling down on their efforts to go after the bankers and high-flyers who made a killing off the IPO at what seems like the expense of millions of investors. Even Mr. Zuckerberg, something of a populist corporate hero, will face PR troubles in the future. The Facebook event also strikes just as another theme is making its way through the markets. The Economist last week picked up a story thatâs been rattling around for a couple of years. âIs the era of the public company coming to an end?â wrote a Reuters columnist last year. In The Economist version, the number of public companies traded on markets has plunged over the last two decades, along with total market capitalization. Thereâs talk of an IPO famine, something Facebook was supposed to help change. Private-equity and state-owned companies are replacing publicly traded corporations. The challenge to public firms, said The Economist, âlooks unusually strong at the moment, and the auguries for the _future grim.â If the eggs on the face of the Facebook IPO are not cleared away in the near future, the outlook for Wall Street and public corporations in America will be even grimmer than it seemed just a week ago. http://opinion.financialpost.com/author/terencecorcoran/ is Steven Spielberg doing the movie............ s