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Facebook Plunge Limits Goldman Sachs Gain as Lockup Ends: Tech
Facebook Inc. (FB)’s stock plunge has robbed Goldman Sachs Group Inc. and Microsoft Corp. (MSFT) of much of the potential gain they could unlock as soon as this week, when a ban on sales of insiders’ shares begins to lift.
While the end of the lockup has the potential to put additional pressure on the stock price, owners such as Goldman Sachs (GS), which now has a stake worth about $900 million, face a dilemma: whether to sell now and realize a smaller profit or sit tight and risk further losses.
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Is social media another dotcom bubble?
A crucial date for facebook stocks (August 16th) is closing, and I really am curious what will happen then. I am not owning any of their stocks, but considering the way how the whole thing was done makes me wonder if there is still some common sense or "the sense is what we are told it is". Here is an article that is worth reading it before "that date"
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Investors with long memories may be feeling a sense of deja vu.
The recent plunge in the value of Facebook and other once high-flying social media stocks has brought back painful memories of the dotcom bubble of the late 1990s.
In that first wave of internet euphoria, investors threw money at unproven start-ups which quickly went bust or shrank to a tiny fraction of their peak value.
Five trillion dollars (£3.2tn) was wiped off the value of shares traded in major centres between 2000 and 2002, partly through the collapse in technology stocks.
There are parallels with what is happening now to social media shares.
Social media is the term bandied about for a range of internet businesses that have recently joined the stock market.
Facebook is the prime example.
"There was so much excitement and potential around these stocks last year and now there seems to be more scepticism," explains Evelyn Rusli, who writes about technology investment for the New York Times.
"Investors are now looking at these companies and thinking 'OK even though they showed some initial strong growth, that trajectory isn't going to continue'," she says.
The disappointment is reflected in the performance of the shares.
Facebook's shares have fallen more than 40% since trading started in May.
Among the others, Groupon, the daily discount deals group, has seen its shares lose nearly two-thirds of their value. It has results out later on Monday.
Also, the internet radio group Pandora Media's shares are down more than a third and social gaming firm Zynga's shares have slumped 70% since trading began.
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full article
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Seems that everybody is waiting the 16th of August (when the next big group of investors (Goldman Sachs, Microsoft...) can start selling), so nothing new till then
Facebook Freeing 60 Percent More Shares Seen Weighing on Stock
Facebook Inc. (FB) is freeing up 271.1 million of its shares today, boosting by 60 percent the number that could be traded and adding to concerns that have weighed on the stock since the company’s initial public offering.
Early Facebook investors such as DST Global Ltd., Goldman Sachs Group Inc. (GS), Elevation Partners and Accel Partners get a green light today to start selling part of their holdings, Menlo Park, California-based Facebook has said in filings. That’s after the lifting of restrictions designed to prevent a flood of shares immediately after an IPO.
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Facebook Freeing 60 Percent More Shares Seen Weighing on Stock - Bloomberg
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The additional stocks that could be sold cause a predictable (in this case) effect : level 20 is broken for now_________________________________
As a reminder - The next lock-up periods expire on the following dates:
• 15 October: 249 million shares
• 14 November: 1.32 billion shares
• 14 December: 49 million shares
• 13 May 2013: 47 million shares
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It is not the end of the day yet, but this is hardly reassuring to facebook stocks owners :
20 $ seems to be the key level
I watch bloomberg but don't understand much about FB
it said something about, people would release large amount of stock , then they will buy back
what I understood is that 20$ -- is the level they would go diarrhea, then eat back the pooh later
I wish I have one stock of apple, amazone and FB, but I got zero stock in my life
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xx3xxx
They are actually trying to protect the stocks (any stocks) with the lock-up stocks rule
In order to avoid a situation when all the stock owners would sell (for example), stocks are divided into "chinks" with a starting dates dates when they can be sold. On the 16th a large number of stocks (owned by Microsoft ans Goldman Sachs among others) could be sold and that (among other things) was the cause for for that price change. The next "crucial" date is October the 15th
Anyway, so far you are right about the level 20. Yesterday close at 19.050, so there is still no definite break down (support is there somewhere), it just depends what will the big players decide20 $ seems to be the key level
I watch bloomberg but don't understand much about FB
it said something about, people would release large amount of stock , then they will buy back
what I understood is that 20$ -- is the level they would go diarrhea, then eat back the pooh later
I wish I have one stock of apple, amazone and FB, but I got zero stock in my lifeso red