I'm so glad I didn't buy any Facebook stock....aren't you?
LOL never would have and so glad i did not
I am so glad that you did't either.
I have a feeling over the next 3 months that the price on FB stock will plummet even further than todays asking price of 21 dollars
and this article is why
Another 1.7 Billion Reasons to Avoid Facebook Stock (//vny!://moneymorning.com/2012/07/31/another-1-7-billion-reasons-to-avoid-facebook-stock/) July 31, 2012 By Diane Alter, Contributing Writer, Money Morning
As if there weren't enough factors to make Facebook (Nasdaq: FB) (//vny!://moneymorning.com/tag/facebook-stock-price/) stock unattractive, there's a flood of free shares about to hit the market that could make it even harder to raise the share price.
In two weeks comes the first expiration of "lock-up" agreements, meaning certain investors barred from selling their shares will then be able to do so. Typically employees and big investors are required to hold shares for a certain time period after an IPO. This is done to reduce selling pressure and the chance of a mass exodus as soon as the stock starts trading.
But now some of those investors' shares will be freed up, and they want to cash in.
Nearly 1.7 billion shares of Facebook stock will enter the market over the next few months, starting in mid-August. That is more than four times the number of shares now floating on exchanges.
"It's like a train coming around the corner toward shareholders, so they better get out of the way, Francis Gaskins, president of research firm IPOdesktop.com, told the Los Angeles Times.
The first batch of 268 million shares will be freed up in mid-August, followed by 192 million more shares in mid-October, and a whopping 1.2 billion shares will be let loose in mid-November.
Granted, a slew of those shares will not be sold, but the fresh torrent of shares to be set free far outnumbers the 421.2 million shares Facebook sold in its fabled IPO.
To continue reading, please click here... (//vny!://moneymorning.com/2012/07/31/another-1-7-billion-reasons-to-avoid-facebook-stock/)
How low u think it will go.........buy in at $5 :-\
Quote from: Orik on Aug 03 12 02:59But now some of those investors' shares will be freed up, and they want to cash in.
Uh oh.
Quote from: Orik on Aug 03 12 02:59Nearly 1.7 billion shares of Facebook stock will enter the market over the next few months, starting in mid-August.
Wow, if only 10% of them hit the market, that's 170 million shares. That's about ~40% of what's already out there now. Ouch.
Quote from: DDD on Aug 03 12 04:07How low u think it will go.........buy in at $5 :-\
I don't see why it couldn't. Look at what silver did...went from ~$29 to ~$49, then plunged down to ~$27 or so where it's at now.
So, Facebook dropping to $5? I wouldn't be all that surprised. My guess is it'll level out around $10 to $15 at most, but what do I know.
Venture capitalists who invested in Facebook as early as 2005 were likely itching to sell at the earliest opportunity. Though it's trading at about half of its IPO price, Hamadeh said Facebook's stock is still very expensive.
"With VCs, they know that waiting for a better price is a fool's game," he said.
Thursday was only the first of several lock-up expiration dates for Facebook's stock. The biggest one is coming in the fall.
Only 271 million shares became eligible for trading Thursday, but by the time all the lockups expire, that'll come to 1.91 billion. That's nearly four times the 421 million shares that had been trading since Facebook began trading publicly 90 days ago.
Lol, Facebook stock is now down to $19.05 from it's original $38.
Congratulations, investors! You've lost 50% of your money in ~90 days....good job!!
(//vny!://discoverseattle.net/image/facebookstock2.jpg)
5 bucks i bet it will hit
OUCH: Facebook's market value has dropped more than $50 billion in 90 days.
To put that in perspective, that's more market value than Lehman Brothers gave up in the entire year before it filed for bankruptcy.
The stock is currently hovering around $18 a share.
DDD, you may be right. FB bottoming out at ~$5 per share doesn't sound all that unreasonable at this point.
EDIT: Now it's down to $17.76 a share.
5 and then i will buy ONE share LOL