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lessismore · 4501 days ago · link · · parent · post: Facebook: The stockmarket has lost no time in unfriending the social network
Yeah. I recall your post. Most folks in here were very cognizant about the scam that was the FB IPO.
The amazing thing was how many people bought this shit to begin with. Its not as if they had a hard time getting people to buy into the IPO. I have a guess that Goldman probably steered a lot of its investors who otherwise would ave stayed away into the stock, because they knew they would make huge fees just for selling it. I don't know anything about the world of big investments, but is it known who, exactly, were the main buyers, and why they thought this was a good investment? If it was mainly speculators hoping to flip the stock on day one, then all I can say is, "Haha".
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lessismore · 4501 days ago · link ·
Their IPO wasn't really an IPO. Their shares were already active traded prior to the IPO in secondary markets.