Wednesday, May 23, 2012

Facebook IPO Scam

As in my previous blog about FaceBook I made the claim that Wall Street and FB executives and employees were simply using the IPO to make cash for themselves. FB is on the decline as a company, so stock price, which represents future value, should be priced low and will continue to declive over time.
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Well, FB has lost over 8% just today
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I don't feel like digging through the SEC Form 4s to see how much stocks were "given" to the FB executives, but the underwriters are getting paid $176,000,000 just for helping FB go public.
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Wall Street is a different animal these days. It seems its primary purpose is to take money from investors and pocket it. Same goes for executives of major corporations.
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