Thread: Facebook (Meta)

With Facebook up this morning, any chance those that invest in it could be considered the dumb money and as such, could it be considered a contrarian indicator? Nothing personal mind you...........:toung:

Originally Posted by tsptalk

The saga continues...

Out of the blue, I got a call from Scottrade telling me that they may be able to cancel my second / duplicate order, and wanted to know if I was interested. I said sure. They have a conference call with the Nasdaq where they will be discussing it and get back to me. Huh! I didn't see that coming. Must be that karma thing.

Just a follow up - I woke up today and Scottrade had cancelled one of duplicate purchases of FB. That added about $7K to my account. I am pretty surprised, and pleased with their efforts on this. Remember, they came to me about this. I originally wrote this off as my problem. Nice job Scottrade!

Sounds to me like Scotttrade is trying to do damage control.

Did you see this?

At the same time, with lawsuits literally mounting by the hour, it seems anyone within an arms reach of this deal is going to have some serious explaining to do. While shareholder suits are commonplace and often frivolous, the problem with this grievance is that it's grounded in populism, it's easy to understand, it will get wide mainstream coverage, and it's of interest to about one billion people.

As I write, shareholder suits have already been filed in New York and California. The State of Massachusetts has subpoenaed Morgan Stanley (MS), following reports that it allegedly only told a few of its best clients that its analyst was cutting his revenue outlook for the company. The entire underwriting syndicate --(GS), (JPM), (BAC), (BCS)-- is being sued, as is Facebook's newlywed CEO and several board members. In addition, the Nasdaq (NDAQ) has also been sued, and the SEC and FINRA are launching investigations. Congressional hearings and probes can't be far off.

That story is over on Yahoo.

A lot of people not happy with how FB launch went.

Fury Over Facebook IPO Grows, Lawsuits Mount | Breakout - Yahoo! Finance

Originally Posted by tsptalk

Remember, they came to me about this. I originally wrote this off as my problem. Nice job Scottrade!

Now, you will be demonized in the media as a "rogue trader" that started the cascade downward. You'll be famous!!!

Originally Posted by tsptalk

Just a follow up - I woke up today and Scottrade had cancelled one of duplicate purchases of FB. That added about $7K to my account. I am pretty surprised, and pleased with their efforts on this. Remember, they came to me about this. I originally wrote this off as my problem. Nice job Scottrade!

Now, just pretend you're Birchtree and hold your position during the current storm of controversy. In fact, you'll be able to pick up a few "wall flowers" now that the price has dropped a bit and charge ahead soon enough. Snort!

Originally Posted by James48843

Sounds to me like Scotttrade is trying to do damage control.

Did you see this?

That story is over on Yahoo.

A lot of people not happy with how FB launch went.

Fury Over Facebook IPO Grows, Lawsuits Mount | Breakout - Yahoo! Finance

I see some of these folks as whiners. Unless the problem was in the ordering, I don't see where people have a complaint. Some IPO's go up, some go down. There are no guarantees. If people couldn't sell on Friday, I can see that as an issue. But we all knew the deal going in (for the most part). No one put a gun to the head of these people to buy. Many here (TSP Talk) were skeptical and a lot smarter than I was about this. I thought the negative hype was overblown, but as you can see by the poll results, 90% figured this was a dud before it began trading.

My problem was the order screw up where I got twice the shares. It had nothing to do with my ignorance of facebook's value.

Originally Posted by Minnow

Now, you will be demonized in the media as a "rogue trader" that started the cascade downward. You'll be famous!!!

The man who took down facebook.

If they had priced the IPO at $29, there would be more happy people right now. I know they recently raised the IPO price to $38, I wonder what it was before?VALUATION GURU: Facebook Is Worth $29 - Business Insider

Originally Posted by tsptalk

I see some of these folks as whiners. Unless the problem was in the ordering, I don't see where people have a complaint. Some IPO's go up, some go down. There are no guarantees. If people couldn't sell on Friday, I can see that as an issue. But we all knew the deal going in (for the most part). No one put a gun to the head of these people to buy. Many here (TSP Talk) were skeptical and a lot smarter than I was about this. I thought the negative hype was overblown, but as you can see by the poll results, 90% figured this was a dud before it began trading.

My problem was the order screw up where I got twice the shares. It had nothing to do with my ignorance of facebook's value.

It remains to be seen whether we who did not buy the IPO are smarter than you. The price will go up. The question is, will you hold onto your shares long enough to profit?

Originally Posted by tsptalk

The man who took down facebook.

He accomplished what the Winklevoss twins could not.

Letter today to FACEBOOK users from CEO Mark Zuckerberg:

A MUST READ!

A Message about Facebook « Borowitz Report