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Showing posts from September, 2012

Facebook Part 3 - Nightmare on Wall Street

When I was younger someone once told me that if you wanted to succeed on Wall Street, ask 100 kids what the greatest things out there are...buy up as much as you can afford of the top 3 answers!!  When I was younger, that made sense.  The youth aren't the ones with their fingers on the pulse of business....they are the blood flowing through the veins!! Now, like picking a horse at a race, conventional wisdom says to listen to the people that spend all their waking hours analyzing and watching to find the best bets on Wall Street. On May 18, 2012, Facebook held their IPO (Initial Purchase Offering).  The Nightmare began.  It started with technical problems with the stock exchange itself (NASDAQ) delaying the opening and then not being able to confirm trades were being made.  Then was further plagued by rumors of Facebook financial officials and the some of the underwriters providing select clients info on the over-valuation of the IPO.  Unfortunately, Facebook was simply not the j