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

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?
Comments (9)
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    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
    , contributor
    Comments (1013) | Send Message
     
    obviously was something that would happen, after reaching the ridiculous valuation of $ 104B
    21 May 2012, 08:59 AM Reply Like
  • Ryan Sullivan
    , contributor
    Comments (16) | Send Message
     
    They'll hold the IPO price for the first day.
    21 May 2012, 09:00 AM Reply Like
  • Mcoffeen
    , contributor
    Comment (1) | Send Message
     
    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
    , contributor
    Comments (2255) | Send Message
     
    You can trade in the pre-market if you want
    21 May 2012, 12:32 PM Reply Like
  • Michael Eisenberg
    , contributor
    Comments (279) | Send Message
     
    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
    , contributor
    Comments (540) | Send Message
     
    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
  • Rupert Nicholson
    , contributor
    Comments (340) | Send Message
     
    Don't forget P/E ratio of over 100 too!!
    21 May 2012, 09:40 AM Reply Like
  • BreakoutTrader
    , contributor
    Comments (36) | Send Message
     
    Someone is defending or bargain hunting at $34 ? http://chart.ly/668bdx2
    22 May 2012, 07:32 AM Reply Like
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