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Wall Street and the public offering of facebook stock.

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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-22-12 12:29 AM
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Wall Street and the public offering of facebook stock.
Edited on Tue May-22-12 12:35 AM by No Elephants
Bailouts are not the only way Wall Street picks our pockets.

There were negative signs before the public offering, including a significant drop in revenues per user well before the public offering. Yet, the public offering of Facebook's stock was being hyped like it was free candy.

Meanwhile, someone more in the know than the general public actually shorted the stock on day one.

They are saying they changed their minds only at the very last minute or "Mid road show."

I am not buying it, literally or figuratively. But I am not holding my breath until the SEC does something meaningful about it, either.

In the same vein of picking the pockets of the investing public, a yahoo director traded on inside information.

Martha Stewart's small change deal aside, insider trader does not get prosecuted a wole lot. However, I would bet my home that millions and billions are made DAILY by people trading on inside information.
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