#1 So???05-18-2012, 04:35 PM
Who bought Facebook (fb) stock today?
I finally placed a Limit order last night. Not enough to make or break me, but I wanted to be in the "game" It was supposed to start on the Nasdaq this morning at 11:00am, but didn't start trading till 11:30 due to glitches. It was supposed to start at $38/share, but opened at 42-43. I placed a limit order on 40. Now trading at the 38 mark. I'm hoping it's my next AAPL stock that I bought 3 years ago at $75 and now trading at $538.00
05-18-2012, 07:01 PM
- Join Date
- Mar 2002
- Items for Sale
Looks like it closed at $38.23 and is $40.03 after hours.
Meh.May the FORCE be with you!
05-18-2012, 07:19 PM
It's hovering around $38.50 AH, which is about $34.00 more than it's worth. Watching the FB frenzy today made me feel like I was back in 1999 during the .com bubble. It is trading at a market cap of $100-$110 billiion, a P/E of 88, and a price to book ratio of 11:1 (more than twice what I would consider the high side of rational). To top that off they had revenues of just around $4 billion in the TTM. You do the math.
FB is going to have to have an absolutely spectacular next five years of earnings just to get their fundamentals anywhere near the valuation of this IPO. It's madness."The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
05-18-2012, 07:28 PM
In my mind you are buying into an idea with no hard assets or substance, as long as the fad stays alive you have something, if trends change tomorrow you're in trouble.
But don't listen to me, I'm not rich.
05-18-2012, 07:35 PM"The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
05-18-2012, 07:39 PM
I didn't buy much of it. I can sleep well at night. I normally stick with blue chips and gold. But I wanted a piece of the action. I'm not shorting the stock any time soon. Facebook doesn't sell a product, but it provides a service. A service of advertisement which is a big business. As long as advertisers continue to use FB, they will prosper.
05-18-2012, 07:41 PM
05-18-2012, 07:43 PM
BTW...I notice that the Huffingngpuffington post keeps taking jabs at FB on their website. They started back on Monday, a week before their IPO date. Every day, there was a facebook smear article. It almost looks personal. Today, after closing bell, they stated what an embarrassment it was to close at the same price it opened. They want facebook to fail. Which makes me feel good about buying the stock, because the opposite of what is posted on that website is usually true.
05-18-2012, 07:54 PM
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