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FB - Facebook
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FB - Facebook

  #121 (permalink)
Elite Member
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GFIs1 View Post
FB has seen today the nice price of 20.87...

Does anyone know of a company that did a IPO on Nasdaq losing ~50% of the initial price
in less than 3 months?

Inputs are welcome

GFIs1

There most likely are some that have lost that much value in such a short period of time. But none so well known that I am aware of. FB underwriters essentially ripped off investors by pricing so high. It is still way over priced imo.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #122 (permalink)
Fiddler
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liquidcci View Post
FB underwriters essentially ripped off investors by pricing so high.

Investors fleeced themselves by subscribing. No one forced investors to pay those prices.

Underwriters priced it there because people valued it there and they could sell it there. It is not the underwriters fault that people were wrong.

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  #123 (permalink)
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Does anyone knows the link where one can get Detailed Information about the Facebook IPO, like which particular category of investors subscribed how much ? Which category saw most over subscription - Retail Investors, Institutional Investors etc. ? What is the current share holding situation according to the most recent filings that they have made to the exchange.

Thanks

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  #124 (permalink)
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Luger View Post
Investors fleeced themselves by subscribing. No one forced investors to pay those prices.

Underwriters priced it there because people valued it there and they could sell it there. It is not the underwriters fault that people were wrong.

I agree no one was forced and investors were stupid to buy in. But the underwriters have a responsibility to price in a way that does not cause investors to take a 50% haircut in 3 months. To many shares at to high a price equals disaster. I 100% agree everyone had a choice but underwriters did a poor job. I don't agree "Underwriters priced it there because people valued it there and they could sell it there." They priced it there out of greed and on day one people were underwater. Don't think the pricing of IPO's is purely an auction mechanism. The underwriters have a lot of control on how gets priced intially. They were wrong and the market is in process of correcting it.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #125 (permalink)
Fiddler
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The underwriters do have a good bit of control. The investors level of control is "Just say no". Underwriters don't want to get it wrong any more than the investors, because they won't get business.

I think if anyone is at fault it is Facebook for not properly disclosing their "real" growth rates. They changed them after the prospectus and the information did not make it to the public before the IPO. Once that information became public, then the valuation got adjusted. To me that looks like Facebook securities fraud. Blame them.

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  #126 (permalink)
Market Wizard
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There are 2 phases of importance in an IPO:

1) Before the IPO - the underwriter and the company need to plan a big marketing action to
get the highest attention from future stock holders
2) After the IPO - the company itself needs to proof to have reached some goals pointed out
in the pre IPO forecasts...

In case of FB:
1) Most of the stock buyers lost "some" money - depending on the time being invested
2) FB itself proofed not ONE predicted goal - even the business model is still missing today
3) The underwriters lost "huge" money - as Nasdaq was not operating properly on IPO day.
(Swiss bank UBS is filing Nasdaq of a loss of over 450 million on the opening day, holding too much
stock which was not processed - and some other underwriters may be in the same situation)
4) A "fair" value of the FB stock can not be calculated today - as all the most important pieces
of a "working" business model are not clear for every business partner in the game.

This is a red warning sign for investors for the upcoming IPO's in the dot.com scene.

GFIs1

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  #127 (permalink)
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Faceplant:



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  #128 (permalink)
Fiddler
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42 - 26 = 16

28 - 16 = 12

Go long at 12?

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  #129 (permalink)
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Luger View Post
42 - 26 = 16

28 - 16 = 12

Go long at 12?

More like cover short at 12

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #130 (permalink)
Fiddler
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FB got put on IB's you can't short this for a day list after earnings. Funny you couldn't get a proper borrow on a stock with a billion share float at a place like IB. lol

Not sure if it made it to the Reg SHO list or not...that would have been even more funny.

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