Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
1–10 of 105 posts
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#2On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO.
On the other, the shape of the daily curve looks like it was supported at that level artificially.
Even if not, it doesn't look like there's a lot of market confidence for it at this level.
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#3On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
here's the pricing chart for today [1]. What makes you think it was supported -- the flat line beginning at 334 pm?
[1] http://finance.yahoo.com/echarts?s=FB+Interactive#symbol=fb;...;
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#4On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
[deleted]
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#5On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
here's the pricing chart for today [1]. What makes you think it was supported -- the flat line beginning at 334 pm? [1] http://finance.yahoo.com/echarts?s=FB+Interactive#symbol=fb;... ;
Yes, that and the rally at almost exactly that level a little before 12pm
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#6On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
It was unquestionably held up by underwriters ... unlikely to continue into next week.
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#7I really don't get why FB is valued that much. If you look at their revenues, net income, quarter-to-quarter growth, the stock should be at $5.50.
Seriously, look at GOOG, compare it to FB. You must be insane to buy FB.
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#8They got a lot of capital to play with. What they do with it will determine if they can build a business that is worthy of such a high valuation.
They are currently priced as if they were bound to run a highly profitable business. Now, reality must catch up with the dream and promises.
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#9On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
here's the pricing chart for today [1]. What makes you think it was supported -- the flat line beginning at 334 pm? [1] http://finance.yahoo.com/echarts?s=FB+Interactive#symbol=fb;... ;
It was supported: http://www.businessinsider.com/chart-of-the-day-why-facebook...
A possible reason why it reached 38 in the first place: http://www.businessinsider.com/why-facebooks-ipo-pop-fizzled...
Re: Facebook closes at $38.23 first day NASDAQ trading, above IPO price $38.00
#10On the one hand, this indicates that the underwriters did a good job of maximizing FB private shareholder value on the IPO. On the other, the shape of the daily curve looks like it was supported at that level artificially. Even if not, it doesn't look like there's a lot of market confidence for it at this level.
More evidence of artificial support, a tweet and screen capture from Paul Kedrosky:
http://lockerz.com/s/209964861
It's easy to overlook the graphic; it's the thin black bar with faint text. It shows:
Bid (size): 38.00 (x9999900) Ask (size): 38.01 (x146300)
@pkedrosky: Watching certain underwriters try to keep certain IPOs above their issue price reminds me of playing Missile Commander, at scale.
Still, this isn't necessarily a negative for Facebook. They optimized their take, and Zuckerberg won't be needing the market's approval or capital again for a while.