Quote:
"Amigos y nadie más. El resto, la selva"
-- Jorge Guillén

Facebook IPO price

From the funny-or-die-ipo dept. (4764) (0) by Luis

Facebook

When Facebook IPO was announced, I stood a very far distance behind. All I said was "why would people buy this stock". Then the price was set at a number shy of $40 USD per share, and people were rambling about it all over all the media (social media included). My post on twitter was something along the lines of "this will go down to $18 in 3 days", and.... it performed just as I expected. (Of course, I had to say this after the stock price was running in the market for obvious reasons. Yes, it has to do with my work ethics!)

In any case, I read this on Slashdot comments and I thought it was worthwhile to write about it:

Slashdot

Mark Cuban Blames Himself For Losing Money On Facebook IPO

godefroi

Someone said this when Google went IPO. There's only three reasons to buy stock:

1) because you want a say in the running of the company (the shares of Google that were available were all non-voting shares)
2) because the stock pays dividends (Google said their shares never would)
3) because you're gambling

If you're into gambling, then by all means, gamble. Just don't be surprised if the house wins.


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