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If everyone is buying facebook stock, why is it doing so poorly?

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If everyone is buying facebook stock, why is it doing so poorly?

Postby chaziel » Mon May 13, 2013 10:12 am

Everyone else is selling it.

Edit: Hilarious - NASDAQ had a 1/2 hour problem on Friday which is why the stock is getting pummeled today. All the rank novices come out for this one.
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If everyone is buying facebook stock, why is it doing so poorly?

Postby ingel66 » Mon May 13, 2013 10:47 am

People were buying FB stock. The NASDAQ stock market tried to keep taking orders without closing off the ordering when trading started. There was a long jam and they could not get out confirmations. The orders started backing up. People got scared.

NASDAQ has promised to change their procedures. NASDAQ has apologized and said they will make anyone hurt whole, but it is not yet really straighted out. There is no problem with FB stock, and those people who end up getting some may live to be very grateful they did. No one remembers, but there was confusion with Google stock that caused problems, and there was a time when holding Apple stock was considered crazy.
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If everyone is buying facebook stock, why is it doing so poorly?

Postby curadhan » Mon May 13, 2013 10:49 am

It IPOed at 80+ times earnings. No where to go but down when that happens.

The smart money rightfully sees it as horrendously overpriced, so they are shorting the crap out of it.
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If everyone is buying facebook stock, why is it doing so poorly?

Postby fitzwalter » Mon May 13, 2013 10:54 am

fear
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