LOL at anyone who thought it would be succesful. Such an overhyped company. P/E was at 107 while apple was at 13. I think the shares will stop around $10 eventually. They don't actually sell a product, its slowing down there users, if not dying out. And if they charge money for it everyone will stop using it
General Motors recently canceled their advertising with Facebook. The best thing that they have to sell is demographic information.. They can sell information about what 21-29 year old females are looking at during the hours of 11-12. Or what 30-40 year old males find interesting... Kinda creepy
The IPO was priced to high it would have tanked yesterday but Facebook had people buying to keep it up. I see it averaging about 15 per share when everything calms down. Like said early Facebook doesn't make new products, they don't create the hype that big name stocks have. ie: apple and google. Apple would tank also if they never come up with new products. Hell look at how low it is now and watch it. Jump when the next major product is announced.
Yes I used ETrade. But I bought 10 shares and sold all of it at once so my fees were 2.37% on the buy and 2.25% on the sell. I had an 18.42% gain, and if you subtract the 4.62% on the transaction fees, I still had a 13.6% gain, which is about a $51 profit. Not bad for about a 2 hour investment.
I contribute most of facebook's poor performance to the NASDAQ's glitch. When the market opened on friday the glitch caused so many firms and peoples orders to get fucked up. No one knew what they had, or at what price they bought or sold it at, so everyone kinda just sat back and waited.