Can Facebook save face?
IPO goes from fanfare to flop
- Duration 4:44
- Date May 19, 2012
IPO goes from fanfare to flop
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No big pot for Facebook's docket opening day Daley doesn't live up to all the hype so -- -- Gary be saying this chart.
As good news for all of us scary yeah.
Well Bremer I think it showed a little that's sanity if -- are the closest you're gonna get the sanity with the -- -- -- PL look this stock opened today at at 38 dollars -- I thought there was a possibility it could end up in the in the ninety -- mean and that's how.
You know allies have much people wanted to own this stock leads to retail investor thank god -- it ended the day just above the 38 dollar range I think that showed.
Not people are kind of waiting to see where this settles out I think that's Smart I think that's good I think that's anti bubble which is what we want -- this well.
Got here so so clear that it's such that today good thing that everybody's not partying like it's 1990 -- No it's not Brenda and I kind of was -- Stockton go anywhere because I'll tell you mention it I mean everybody was into this stock Brenda.
And nobody made any money on it other than Wall Street I mean this was main street's chance.
To get on something hot and I disagree with -- completely I wish your ran up.
Into the eighties because what what happened is chances are the individual investor a lot of my clients could've gotten in and made some money instead.
The stock to enjoy thing and again in this make money for people at FaceBook -- -- shares prior to the IPO right well you know don't know what -- perhaps it's just the fine and it was priced right.
But I do think it was priced right and this is nothing to do with being a down down day for mainstream mainstream wasn't a part of this from the get go this is not open.
To the main street retail investor and by the way it is we -- street retail investors are only about 20% of the population that's how many people.
Directly getting involved in stock activity so this is not a main street Chris this is great finally as the high is monster in a -- -- -- IPO ever okay yeah.
All right doesn't it doesn't matter the number of people works both to the stock market is incredibly small and shrinking.
-- -- I got -- live not just FaceBook.
Loses -- really but you know it didn't it didn't go about what it what it started trading at in fact that he sat.
You know I don't -- -- to pop and a hundred billion dollar my allows like a huge voice type of thing I'm not denying like you lay out like a partisanship I like it.
The point is you don't I think is a little bit of right -- have a lot of guess here we -- we're not -- stock bubble which is great.
And other stocks like apple will -- low valuations -- relative to FaceBook and but I think -- pats for possibly because.
Did little bastard is kind of losing interest in stock to this point that's not really good thing and it would actually been better for it went up you know it's an expense -- -- stock and don't wanna see it Donald.
Thought -- hear you say that but you can't tell -- There's still lots -- bubbling go one on out there are other tech stocks that maybe comment yet -- -- 25.
Private companies that are worth more than a billion dollars but I got a -- Margaret.
We created a hundred billion dollars so well today despite Christians I did you know I guess it's -- -- it's bad to create well.
A hundred billion dollars a wealth is gonna get recycled in the Silicon Valley that's gonna create literally a thousand are 2000 new companies which will create hundreds and millions of jobs.
And but lord -- capitalist country this is capitalism is finest day and -- to pull it because only do what -- of people they'll do stocks.
-- is the entire point of wealth creation and how that works in up in -- real economy pressed up.
We -- you do miss my point I didn't I isn't a bad thing I think it's actually a good thing I just don't think that we can describe this is a great day.
-- mainstream because main street is not exposed to the level to benefit how about all the -- -- somebody that I was streak over I got drug -- what I'm suggesting is I finally think -- Wall Street is getting it right valuing companies appropriately so that we don't see bolt mania I think -- -- -- -- -- -- right and I think that's a positive thing for markets moving.
Forward I think take -- is that -- still -- you go from a dorm room to a billion dollar market value in a few years that you can get a billion dollars in earnings -- going out of nothing in a few years no other country pulls that off with the regularity of American I think that's ultimately while -- won't -- wind up looking like -- camera because we've got.
Got surgeons as a news in the stock market in these startups that you just don't get any -- will be can be excited about it isn't important to remember that the NASDAQ is down about 40% since the last bubble -- -- so we got that we delegate race look at the net pay the.
That's got to get -- -- there are exactly how Clinton's fifteen new millionaires made today.
And they those new millionaires are going to create millions of new jobs in the next I think is the case.
Now what a lot of tax revenue should phenomenon -- -- -- what you got a lot of exact -- cars that -- Berry muddy this up all right good debate got things.