Fake book oh my
Let me start by saying that I have little love for FB...
I would have loved to buy it short on the open in real life but it's funny how in life as on TMF the rules of the game are different for different people.
It was funny to read of fellow fools complaining that they couldn't get in on the IPO.
I kept my mouth shut, but I kind of knew such BS was coming.
It was truely mind wiping to see it trade down to 38 on its open and to suddenly watch my trading platform go crazy seeing 99999 bids when the price hit 38.
I'm no where near a sophisticated investor - trader - human by many a snobs and down-lookers standards, but I found the rigged game even more laughable as they rigged the price of FB on friday so as to keep it from breaching 38 a share.
Lets not even talk about how reports and confirmations of orders and positions being a problem.
Did they think FB was a mutual fund and that price needs to be determined at the end of the day ? LOL. I doubt it.
Supposedly it was all NASDAQ's fault ?
But come on people.
Is FB really worth the price they priced it at ? who benefited ?
Talk about greed, they squeezed every last penny that they could and than they increased the share amounts being sold away.
The reason so many retail customers got in on the IPO was because of the lack of interest among the pros.
According to Tom and not the tom from Myspace ?? LOL
"It was the worst IPO of all time."