Face Plant - Facebook shares in freefall

[DAB]

News Headlines

Facebook shares slid below $29 to a new low on Tuesday as nervous investors fled the company's shares, concerned about the social network's long-term growth prospects and an initial offering price that in retrospect may have been too rich.

Shares of Facebook fell more than 9 percent to below $29 in midafternoon trade, an all-time low.

The eight-year-old company, which began life in Mark Zuckerberg's dorm room, has now shed around $25 billion in value since its controversial and glitch-ridden market debut at $38 on May 18.

Three-quarters of the S&P 500's companies have a market cap of less than $25 billion. The company's market cap now stands at $79 billion while Zuckerberg's shares are now valued at $4.6 billion less than the day of the IPO.

A software error on Nasdaq OMX Group's [NDAQ 22.13 0.07 (+0.32%) ] U.S. exchange delayed the start of trade by 30 minutes on Facebook's first day of trading, which was to have been the culmination of breakneck growth for the cultural and Internet phenomenon.

Instead, claims of selective disclosure in the days leading up to the IPO about Facebook's slowing revenue growth engulfed the company in controversy, as did perceptions among some investors that the stock had been overpriced coming out the gate.

Wall Street has long harbored concerns that Facebook, while boasting nearly a billion users worldwide and dominating Internet social-networking, would have difficulty translating its growing presence on smartphones and other mobile devices into revenue. Rivals Google [GOOG 591.78 0.25 (+0.04%) ] and Apple [AAPL 570.41 8.12 (+1.44%) ] now control the mobile arena.

buy low, sell high....

[mrvette]

What are the REVENUE #'s what are the COST OF OP's #'s....., then we see what the operation is worth, until the, all the rest is...
































BULLSHIT!!!!

[mrvette]

I kinda hope they DO land at like 5 bux/share.....why?

to prove that it was nothing but a money hustle from the git go....

and Zuck can to to jail along with the rest of the execs in the crap with him....

like so many other .com bubble bastards that deserve jail time....

I know of only TWO companies worth a shit after all this...MSFT, because of being essentially .gov supported......

and Qualcom, because Dr. Irwin Jacobs did the initial CDMA codec development work to provide to Verizon then ATT/Bellsouth......

Jacob's version of DOS......

IF anyone can name another operation as big and still doing good, go at it, please.....

[DAB]

Apple.

[kingpin]

$60 a share by the end of the year.

[mrvette]

Originally Posted by DAB

Apple.

BUT Apple has been up and down like a yoyo for years now....

gotta give a huge hit though...but it's not PROTECTED technology, there is NO patent or copywrite that I know of....

so some other outfit comes in on their act and does it outta China Inc for next to nothing...or less...

not that I wish Apple anything negative, just have to question the inside and history knowledge....

[theanswriz42]

Originally Posted by kingpin

$60 a share by the end of the year.

That would give it a P/E of what? 130?

[Jeff '79]

Dead money.....Those dumb bastards.......err, FB investoes....All of that BS hype...It was so obvious to stay away from it like the plague. Live and learn.
We all fk up ...Hopefully your fk-ups are less than your winners....If not, get out of the game.

[xXBUDXx]

Google

[Rapid Roger]

Amazon seems to be doing ok.......

[ApexOversteer]

I never understood how you could sell shares in something that is free...

[Icedancer]

FB will be below $20 by fall.
If they can't monetize the mobile FB apps by year end, they will be below $14.

I am dead serious.

[69camfrk]

Originally Posted by Icedancer

FB will be below $20 by fall.
If they can't monetize the mobile FB apps by year end, they will be below $14.

I am dead serious.

Hmmmm....I could swear that I said that it would fall to shit months ago. They produce nothing and advertising revenues come and go. It is a fad. I was actually on it for a minute, then I remembered that I could give a shit less what anyone else is doing. I got on it to talk to family and it took on a life of its own. You won't see me back there.

[boracayjohnny]

If the following is true, he's just another POS rich guy....

Facebook founder Mark Zuckerberg left no tip after Rome lunch - Telegraph

He may be worth $20 billion, but when Facebook founder Mark Zuckerberg took his new wife to lunch during their secret honeymoon in Rome he spent just 32 euros (£26) – and did not leave a tip.

The owners of the kosher restaurant in Rome's Jewish Ghetto – a historic quarter in the centre of the city – were surprised when Mr Zuckerberg and Priscilla Chan walked away without leaving a gratuity.

Their bill came to just 32 euros after a lunch consisting of deep-fried artichokes – a Roman Jewish speciality – fried pumpkin flowers and ravioli stuffed with sea bass and artichokes.

Instead of wine or beer they opted for a bottle of water and a pot of tea.

Waiters at Nonna Betta, which specialises in Roman Jewish cuisine, were amazed by Mr Zuckerberg's parsimony, not just because of his huge wealth but because of Americans' reputation for tipping generously, as is expected of them at home.

It was not a case of not enjoying the meal, said the owner of the restaurant.

"I asked him 'how was it?' and he said 'very good'", the owner, identified only as Umberto, told Corriere della Sera newspaper. "I had gone up to him and said 'Are you ...?' and he said 'Yes'."

It was not the first time that the multi-billionaire chose not to tip – he reportedly did the same thing the night before at Pierluigi, a historic trattoria near Campo de' Fiori, a pizza in the heart of Rome.

The couple's honeymoon was a closely guarded secret until a Polish tourist spotted them in the Sistine Chapel, snapped a blurry photograph, and posted it on Twitter – Facebook's social network rival.

True to his casual style, the young internet tycoon was wearing jeans, a T-shirt and trainers.

They left Rome on Monday, with speculation that they might be heading towards the Amalfi Coast south of Naples before heading back to the US.

Mr Zuckerberg, 28, whose shares in Facebook are worth nearly $20 billion, married his long-time girlfriend on May 19 in Palo Alto, California.

Their wedding took place a day after Facebook's initial public offering on the NASDAQ stock exchange.

The couple had planned the exchange of vows for four months, but surprised their guests, who thought they were to celebrate Miss Chan's recent graduation from medical school, a celebrity magazine reported.

Mr Zuckerberg, Time magazine's Person of the Year in 2010, started Facebook in his Harvard University dorm room eight years ago, before dropping out of the Ivy League school.

Ms Chan just graduated from medical school at the University of California, San Francisco. The couple met while at Harvard.

[kingpin]

Originally Posted by boracayjohnny

If the following is true, he's just another POS rich guy....

Not really. He's just another non tipper like some guys on this forum and the other place.
Just because he's rich he doesn't have to tip either.
Especially if something was wrong with his rabbit meal.

[boracayjohnny]

Originally Posted by kingpin

Not really. He's just another non tipper like some guys on this forum and the other place.
Just because he's rich he doesn't have to tip either.
Especially if something was wrong with his rabbit meal.

He's got billions. What's $20? Cheap ass.

Also, the folks that aren't billionaires and don't tip are cheap asses. If ya don't tip and the service was decent or good, then don't go to the phucking restaurant where folks work mostly for tips.

[kingpin]

Originally Posted by boracayjohnny

He's got billions. What's $20? Cheap ass.

Also, the folks that aren't billionaires and don't tip are cheap asses. If ya don't tip and the service was decent or good, then don't go to the phucking restaurant where folks work mostly for tips.

I agree with you on both accounts.
I was kinda playing devils advocate.

I'd be tipping $20 on that bill myself.

[Joecooool]

Originally Posted by kingpin

Not really. He's just another non tipper like some guys on this forum and the other place.
Just because he's rich he doesn't have to tip either.
Especially if something was wrong with his rabbit meal.

While some Italians tip, the majority of them do not.

"When in Rome..." Unless you are a billionaire then everyone will give you shit about not acting like an American.

[G8rDMD]

I always like to hear the reverse stories, of celebrities leaving 100% tips on large bills. I think I've read of Robin Williams and a few others doing that on occasion

[Thud]

Maybe things will pick up if the Apple/Facebook integration pans out. If facebook drops to $20 it might be worth picking up.