SEC Calls For Review of Facebook IPO 267
beaverdownunder writes "After losing another 8.9% of its IPO value in its third day of trading, SEC Chairman Mary Schapiro has called for a review of the circumstances surrounding Facebook's IPO on the NASDAQ late last week. Unable to sell Facebook short, investors have instead taken to short-selling funds that owned pre-IPO shares as revelations come out that the underwriters involved revised their Facebook profit forecasts downward in the days before the offering without similarly revising the opening share price. Meanwhile, Thomson Reuters Starmine has come out with a post-party Facebook estimate of a meager 10.8 per cent annual growth rate, valuing the stock at a paltry $US9.59 a share, a 72 per cent discount on its IPO price, signaling that the battered stock may not have found the bottom yet."
Re:tagged failbook (Score:5, Funny)
We wanted free money!!
(pass me the tiny violin...)
where's the bottom? (Score:5, Funny)
Re:Super tired of these two banks. (Score:5, Funny)
Good news everyone (Score:5, Funny)
"This week investors will be able to buy shares of Facebook stock for the first time ever. It's great â" now you can lose all your money in the same place you lost all your time." -Jimmy Fallon
Re:could this be the end? (Score:4, Funny)
That's da bomb!
An unfortunate choice of words you may regret having chosen when the black vans park in your driveway.
Re:Super tired of these two banks. (Score:5, Funny)
I agree.. Facebook is easily worth 100B. They have nearly 5B in assets. So that's only 20x
For comparison,
Nvidia has 6B in assets, and is worth 7.5B
AMD has 3.5B in assets, and is worth 4.3B
Amazon has 20B in assets, and is worth 97B
Intel has 70B in assets, and is worth 130B
But those companies aren't as cool as Facebook. I mean Facebook is at least 20x cooler than AMD. AMD just makes useless processors.. Facebook lets me send critical status updates to friends. How can you even compare the two?
Re:When Zuckie himself is selling shares (Score:5, Funny)
feeding frenzy
!!!RARE!!! The original Facebook share! Never sold since IPO! Own a part of Internet history! $300 or better offer!
(check other items in my Ebay store)