Shareholders might be looking for the head of Mark Zuckerberg stuck on a spike after Facebook shares sank 6.3 percent. You can pick up a second hand one for less than $20.
This time the shares fell because all those who bought them in the overpriced IPO were allowed to get rid of them for the first time.
More than 270 million shares owned by early investors became available for trade yesterday. So far stock is almost 50 percent down from its $38 debut.
Most investors are a little worried about what will happen when more than 1.4 billion additional shares will be eligible for selling by the end of the year will come onto the market. This will happen when Facebook's employees get to cash in stock awards for the first time.
After yesterday, Facebook has lost almost $50 billion, or just under half, of its value since its IPO. The stock, which debuted at $38, fell as much as 7.1 percent to a all-time low of $19.69 before ending the day at $19.87.
With Facebook trading at just under $20, Zuckerberg is now worth $9 billion less that he was after the IPO. And many investors will want their pound of flesh.
After all Zuckerberg has overseen a failed IPO, his stock has been cut in half, and he has ruled over a weak quarter.
But our prediction is things will get much worse. Facebook is still trading at 40 times its expected 2012 earnings. To put that into perspective Google trades at 16 times and Apple 14.
Our guess is that shares will continue to slide until the company starts making serious money again. Our prediction has been that the share price will settle at about $13, which is the IPO price which we thought was the most reasonable. However that will mean that there are lot of people who have lost their shirts.
The blind-blinded have every right to their manoeuvrings but not when they insist that their blindness is of absoluteness, just like some airy-fairy demanding that his afflictions be universally mandated as normal and should therefore be in schoolbooks, entertainment, and other curriculums. Like the constant harping about humans coming from the depths of the African past nonsense - and then revising their absoluteness as they go along sorts of stupidity-dumbness [otherwise these "scientists"/"genealogists" would have offered a cautionary note akin to the one the bookies are forced to include about "past performance being no indicator/guarantee of future performance]. If only the blind could see for then, one's choice would then nail one to one's finality as opposed to this game of cycling through the tussel between illusion and delusion, just like "Shareholders" and their stocks/bonds/commodities etc., hoping to mug The Other before he awakes, a gain having to be met by a loss within the universe of Energy Transformation. Not that gambling combatants ever see it this way, of course.
Other than the privileged and the entitled cashing-in their less than $10/share pre-IPO freebies in trying to possess some mollifying gadget or to satisfying some whorish beckoning, those who'd bought into the Vacuuming Melting Iceberg ought to sit tight because without The Whipsaw, there could be no "Market" - but mind The Trend though. It will get/trend worse, of course, because The Energy Supplied is being wound down for the approach of He who must arrive if only because She had already done so, but The Bookie is not without His resources, Disagreement being His duty. And this is not the Hallelujahs' Speaking in Tongues nonsense other than what Mohammed had said, which is that, "At the Time/Moment of Resurrection/Kiyama, your hands will speak." No, no that hand but both hands - and the feet and body too because the then enlightened brain will offer no resistance via its unenlightened thoughts. If nothing else, it had to be worthy of a Hollywood Chosen Few novel.
"Our prediction has been that the share price will settle at about $13,"
If the Stock it is Not worth more than $ .99 cents
why should we pay your utterly inflated price of $13?