Just down 8% again today, approaching $32.

I heard launch day was bad because of a software glitch (paused or delayed trading, IIRC). So I guess the psychology of Wall Street is making it worse now?

I voted I sucker?

I definitely should have shorted. If ever there was a situation where a stock was so obviously going to go down it was this. They were just so absurdly over-valued I couldn't see any legitimate reason for the stock going up.

Opportunity wasted.

Personally I want to let it fall some more and then buy some.

Facebook can't worth $100 billion. That company isn't making any products, just services and ads. $4B revenue with $1B net income and $2B operating costs? Bloated.

They were just so absurdly over-valued I couldn't see any legitimate reason for the stock going up.

Because clearly, all stocks' value is based on legitimate reasons... What's google at again? At least they're doing stuff now, but during their IPO they didn't have much more than a lot of traffic and infrastructure lessons learned either.

And no; I didn't buy any stock. As I don't think they're worthwhile enough to make an account, I certainly am not going to invest in it.

Most stocks are volatile right after an IPO. That is to be expected.

Many people were hoping for the skyrocketing effects many companies used in the past to get rich quick. That didn't happen. But they also didn't really go too far off the opposite end, either.

I'd give it a month to settle down before seeing if the $38 price was wrong. Based on their financials compared to stocks I know about, based on their revenues I think the $38 was just about right.

The only people that make money on IPOs like this are institutional investors who got the shares at half price 6 months ago. Most tech IPOs are flops, inflated by those who remember all the people getting rich from IPOs in 1999 and still think it's a good idea.

[quote name='way2lazy2care' timestamp='1337704777' post='4942251']
They were just so absurdly over-valued I couldn't see any legitimate reason for the stock going up.

Because clearly, all stocks' value is based on legitimate reasons... What's google at again? At least they're doing stuff now, but during their IPO they didn't have much more than a lot of traffic and infrastructure lessons learned either.

And no; I didn't buy any stock. As I don't think they're worthwhile enough to make an account, I certainly am not going to invest in it.
[/quote]

Google opened at around $100 a share and is currently sitting at $600 a share.

Google is also making significantly more money, for its value, than facebook is. Facebook made 1 billion last year in profits. Google made 10x that amount (at 11.7 billion dollars in profits).