Facebook (FB +0.6%) closes at $38.23 following an epic final hour of trading. Shares spent an...

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winningtrader Comments (2264)
 
.... ''without breaking below the IPO price''. I just wonder how much shares the IPO banks had to buy to support the 38 price. My best guess is that next week it is going to drop below the IPO price. This is overpriced like there is no tomorrow.
18 May 2012, 04:26 PM Reply Like

Andrew Butter Comments (1622)
 
The answer to your question is here:

http://tgr.ph/L7m0yz

What they got stuck with according to that article:

Morgan Stanley: $6.12 billion
Goldilocks: $3.2 billion
JP Morgan: $2.4 billion

Total $11.72 billion

The way I read that, net they sold a little over 120 million of the 421 million shares they have in stock so they got about 300 million left.

570 shares traded so back of the envelope, assuming a bit of flipping, they sold 340 million in the morning and bought back 230 million in the afternoon.

Next...$15?
19 May 2012, 04:40 PM Reply Like

enigmaman Comments (2646)
 
FB holders will be thinking long and hard over the weekend whether to hold or sell, IMO on Monday there will be more sellers then buyers by a large margin and so FB could sell well under the IPO. Looks like the only ones who made any money were the insiders selling in large volume, there self dealing did just fine. could be maybe they knew more then they let on about FB so they wanted out sooner rather then later, not a ringing endorsement for FB or its CEO
18 May 2012, 05:04 PM Reply Like

Wall Street Smart Comments (472)
 
At 22 bucks this company would be valued at 60 bn. Even at that price, I would call the company expensive. Anything this hyped is rarely good.
18 May 2012, 05:12 PM Reply Like

spald_fr Comments (2457)
 
How do I 'thumbs up' this lousy IPO?
18 May 2012, 05:27 PM Reply Like

DW AZ Comments (4)
 
The underwriters for FB handled this all wrong and it clearly looks like the stock now has no where to go but down ....as they have flooded the market with a high volume of shares at a price that cannot be justified by the expected future earnings...This is a total flop of an IPO except for the insiders who sold their shares ....If the underwriters had maintained a price of 28 and the reduced quanity , this could have been a 100% pop and excitement about FB would have been high....Now it looks like a year-end tax loss...
18 May 2012, 05:53 PM Reply Like

muchbusiness Comments (247)
 
I bought a hundred shares, just because I have a herd mentality. So now, I guess, I hold it for my grandchildren.
18 May 2012, 06:57 PM Reply Like

Hendershott Comments (1058)
 
Where's the hype? Don't know if I've ever seen an IPO get a sell rating from an analyst on the first day. Isn't there somebody who likes this stock? I'm sort of impressed they managed to even do an IPO in a tape this ugly what with the end of Western Civilization staring everyone in the face and all.
18 May 2012, 09:12 PM Reply Like

VOL FAN Comments (717)
 
This is a stock for the retail investor who will not short it and stay for the long haul. I got in at the IPO price $38 and the open price $42 which was exactly what I wanted to do. I care not what it did today. One day or one month or even one year does not make or break a stock that has millions of small time investors behind the stock. The NASDAQ mess up was a blessing as it kept some of the big boys on the side lines. This could not have worked better as the big boys went home with their hats in their hands. If you got the time and the patience this stock will be a winner. If you were looking for a quick buck you looked in the wrong place. Good Luck!
18 May 2012, 09:29 PM Reply Like

Moon Kil Woong Comments (8812)
 
It's funny that I said that FB's IPO will be the peak of the social networking stock bonanza. I'm just amazed it seems to be happening this fast.
18 May 2012, 09:31 PM Reply Like

Aristiphones Comments (1228)
 
social networking "of a type." Yahoo actually went up on the news of what will easily be the biggest IPO failure in history. Like a newspaper going out of business "they overinflated their subscription figures" as well. Lawsuits GALORE...IF the underwriters survive of course. (they will be suing Mr. Zuckerberg by the way.) We'll see if "this is the kick-off to the contagion." Yield spreads have been blowing out all week in Europe. This will be coming "to a theater near you."
19 May 2012, 10:55 AM Reply Like

Peter Schmotzer Comments (71)
 
This epic dud was sold with both fists imo
18 May 2012, 09:57 PM Reply Like

bobbo3000 Comments (37)
 
It's a tech bubble. No one knows for how long, could be years. This thing will go much higher. It's more about being able to sell before it crashes.
19 May 2012, 10:45 AM Reply Like