Monday, May 21, 2012

Faecesbook Shares Tanking

In the event that anyone is interested, shares in Facebook are tanking; they are currently trading at around $33 compared to its offer price of $38 and Friday high of $45.

Friday's IPO was severely marred by the failure of Nasdaq to do what it was meant to do, ie provide up to date price and trade information, instead it wallowed in 2 hour trade confirmation delays.

Now that the technical "snafu" has been sorted, and Morgan Stanley have stopped supporting the price, people have woken up to the fact that Faecesbook was massively overpriced.

No surprises there then!

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