Facebook’s IPS (In Plain Sight) Shady IPO
So what exactly happened?! Hmm. I don’t have first hand, intimate knowledge. But taking a closer look at info available to the public, it’s still doesn’t pass the sniff test.
On May 15th the initial price was upped from approximately $28 p
er share to $38.payday loans Very shortly after it was announced that an additional 50 million shares would be made available (easy math, seeking half a billion dollars more). And then yet another smelly maneuver, those that were in possession of shares pre-public sale made it known they were going to sell more than 50% of their shares before the day one!
Let’s ask ourselves this. If this was a golden opportunity, ala Apple or Google. Who would be selling their shares before it went public? Here’s a little loose analogy of the dollar$ that have been thrown out by said pre-public shareholders if they had done so with Apple or Google shares. We’re approximating that and additional 80+ million shares were sold by these individuals. Apple went public December 12th, 1980 at $22.00 per share. It’s worth at the time of this writing $568.42. That’s a whopping $43,713,600,000.00 those guys would have let go. How about Google? On August 25th, 2004 Google (g**g) went on sale for $85, currently worth $590.65 as of this post. That would have been $40,452,000,000.00 tossed out by the insiders.
I’ve heard it said a lot by and to Joe blow investor, buy something you are very familiar with. Few things are more known and used than Facebook these days. But let’s take a poll. Would you be willing to put your money on Facebook…literally?