A New Look at Facebook IPO



Facebook founder Mark Zuckerberg

   Dear Editor:

     I was hoping that you would continue to do biz notes and talk about the stock market when you went online. Are you discontinuing that part of the paper, my favorite?

    I have a somewhat different slant on what happened with the Facebook IPO (FB). CNBC's  prime morning show, Squawk Box, is filmed right at the New York Stock Exchange.

    Many of the reporters criticized and low-balled the stock, actually seeming to malign the company. Were they influenced by NYSE promoters? Well, this is what I think.

    The NYSE immediately came out publicly and offered Facebook to move to the NYSE exchange instead of staying on the NASDAQ, who they say screwed up the IPO. Interesting.

    The stock did peak to $45 and then after much questioning and statements that it wasn't worth it by CNBC reporters, it came down to where it is now, around $26 a share.

    Why do I believe that the NYSE had a part in this? Because in these times, with very few IPO's, the NASDAQ made a fortune, not to mention the State of California, because of its home base.

     Everyone knows the NYSE and the NASDAQ compete constantly; NYSE considered the East Coast Exchange and the NASDAQ, the West Coast Exchange.   What do you think.? I think (FB) will come back and strongly, so if you bought it, don't sell at a loss. Let's wait and see.

    I know the Sentinel doesn't make stock recommendations and I'm certainly not a genius with these things, but that's my opinion.

                                                           Ed in Ebbetts Pass