Market Currents

Facebook (FB) falls through $38 in premarket trade, -2.7% to $37.20. Have the underwriters - who...

Monday, May 21, 2012, 8:14 AM ET
Facebook (FB) falls through $38 in premarket trade, -2.7% to $37.20. Have the underwriters - who unleashed incredible firepower to hold $38 on Friday - gotten to their desks yet?

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This news story has 9 comments:

winningtrader Comments (2253)

Well, the underwriters probably have a stop loss at some point. They are not going to buy back all shares after all. They are likely losing their shirts already and may have to puke what they hold. In any event they can only provide support for a couple of days. What a mess that is. This is all speculation and very little to do with investing it seems.

21 May 2012, 08:21 AM Reply Like

Sebanightwish Comments (830)

obviously was something that would happen, after reaching the ridiculous valuation of $ 104B

21 May 2012, 08:59 AM Reply Like

sullyz0r Comments (4)

They'll hold the IPO price for the first day.

21 May 2012, 09:00 AM Reply Like

Mcoffeen Comment (1)

What a drag.... I had my stop loss at 37.00 and now in pre-market I'm watching my stop adjust with the pre-market price. This makes me want to commit facebook suicide.

21 May 2012, 09:01 AM Reply Like

dieuwer Comments (1774)

You can trade in the pre-market if you want

21 May 2012, 12:32 PM Reply Like

Michael Eisenberg Comments (269)

Reminder to all pundits. AMZN broke its IPO price on first week as well. Lay off FB & judge in few years. Some CEOs build for long term

21 May 2012, 09:05 AM Reply Like

SA Editor Stephen Alpher Comments (491)

Facebook IPO = Amazon IPO?

Amazon averaged 80K visits/day when it came public, and sold for about 6X sales.

Facebook closing in on 1B users, sells for 25X sales.

Facebook can execute exactly how its fans believe it will over the next decade and still be a lousy investment for its shareholders. Price matters.

The best bet may be buying related names (Zynga, et al) that got hammered due to the post-IPO performance.

No positions for yours truly!

21 May 2012, 09:29 AM Reply Like