Thoughts on the Faceplant IPO

Discussion in 'The Bar' started by LonghornJ, May 29, 2012.

  1. LonghornJ

    LonghornJ VIP Extreme Gold

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    I hope all the reports of the past few years of the retail "investor" walking away from the market are true... of course I know they are as monthly redemptions of mutual funds and retirement accounts have been in the billions per month as Joe Six Pack liquidates his nest egg to cover the monthly expenses beyond his unemployment benefit...

    But that being said, I think this will be a seminal moment in the disconnect of trust, whatever of that is left, between the common man and the Wall Street rattle snake. Morgan Stanley really cluster fucked this thing to oblivion, and I hope every poor schlub that had a market fill bid order in and got sacked with this Faceplant POS stock at $45 never forgets it.

    The tide is turning... I think a decade from now this most publicly hyped IPO will be a great case study on when main street really said "fuck you" to the great Ponzi the government has masked over its citizens' eyes for the past 30 years.

    And the real kicker is all the insiders that were dumb enough not to immediately liquidate their shares... as they sit for the next 80 and 160 days watching their share price go down the shitter waiting for the next vested sale window to open, and the vicious cycle of supply vs. demand takes their vaunted $38 price to trade around $10 by November. The sell side pressure will only intensify as they look to get out. July puts are already selling at $22.

    What a shit show...

    Apologies for the frank language... I'm just particularly disgusted with the whole scenario right now. This is America's great innovation of the 21st century... we can't convert GM to make tanks anymore, but we can sure as shit put a fake valuation on some arrogant asshole from Harvard's fake advertising site of $100 plus billion... and those that shorted the shares before they even hit the market walk away with a nice tennis bracelet for their wife, and perhaps a gleaming Maserati in their garage.

    I'd close with an "unbelievable" statement... but unfortunately it's anything but "unbelievable." It's the way it works now... and it won't work much longer. I hope this debacle is a spark in the dry kindling.

    And what a shame that is... what a shame that this is still allowed to happen.

    Thank you.
     
  2. PLZ callmeTED

    PLZ callmeTED National Treasure Gold

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    Here we go.
     
  3. PLZ callmeTED

    PLZ callmeTED National Treasure Gold

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    Goddamnit, I've been having withdrawals too.
     
  4. MONK

    MONK The fuck? Staff Member Chimp In Charge

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    Selling of the June 30 Puts was the highest traded contract on the CBOE today.

    Someone is waiting for a "pop".
     
  5. Ridic Too2

    Ridic Too2 New Member Banned User

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    Copy and paste?
     
  6. RH Goatcabin

    RH Goatcabin Notable Member VIP

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    What is IPO?
     
  7. LonghornJ

    LonghornJ VIP Extreme Gold

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    There will be no "pop"... even if they buy RIM the security aspect of that transaction will kill it. Nobody trusts FB with their info, and the security aspect is the only thing Blackberry has left going for it at this point. That's a nil transaction.

    Not this time. :)
     
  8. Gwarn1

    Gwarn1 Worlds poorest sugar daddy VIP

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    I was thinking $28.84 was a bargain
     
  9. Avery

    Avery Well-Known Member Banned User

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    Baltimore Mike has been posting the same thing about facebook.
     
  10. Scott

    Scott Masshole Staff Member

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    I'm still mad about the whole timeline thing.
     
  11. LonghornJ

    LonghornJ VIP Extreme Gold

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    See... even he gets it.
     
  12. Ridic Too2

    Ridic Too2 New Member Banned User

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    You must have been a pleasure to pump a keg for in college.
     
  13. LonghornJ

    LonghornJ VIP Extreme Gold

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    College was great... finance still had some air of respectability back then.
     
  14. MONK

    MONK The fuck? Staff Member Chimp In Charge

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    Oh, I don't agree with the strategy at all with selling puts here. I would buy them, not sell them. You don't get more bullish than what is taking place.

    Intrinsic value is way inflated over dollar value. All of the contracts are outta wack.

    Shit stock offers nothing. No product and no sustainability. There is no true business model.

    FB will be at $16 at year end. Watch.
     
  15. Gwarn1

    Gwarn1 Worlds poorest sugar daddy VIP

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    Has anyone checked the price of MySpace lately?
     
  16. Chwizas Girl

    Chwizas Girl Well-Known Member VIP

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    So someone who weally knows about finance feels this way too.

    (ror)
     
  17. LonghornJ

    LonghornJ VIP Extreme Gold

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    Of course, selling puts is suicide here. That's not what I was saying.

    By year end it will be "turn those machines back on!" time.

    [​IMG]

    That being said, I think $16 is optimistic.
     
  18. LonghornJ

    LonghornJ VIP Extreme Gold

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    Optimistic in that the Faceplant will trade between $10 and $13 by Christmas... optimistic that it won't be trading lower.

    You know what I mean.
     
  19. MONK

    MONK The fuck? Staff Member Chimp In Charge

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    I concur bro.

    Fucking shit is a money sieve.

    Investment Bankers did well for running the Syndicate. It never ends. :beer:
     
  20. LonghornJ

    LonghornJ VIP Extreme Gold

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    I know you don't believe that.

    It does... always... and badly.

    I'm curious if Madoff is in his cell smiling about this shit, or if he's angry that he was the one that got put out to pasture.