Let's try a somewhat different format for this one:
Latest Facebook Scandal: Widespread Advertising Fraud
Just as the IPO was mired with fraud so is advertising on Facebook as marketer’s slowly being to realized their getting scammed out of their advertising dollars for what has now been revealed as computerized bot networks clicking on ads and fake phoney profiles being used to like their products and services.
The mask is off Facebook.
Is not joining Facebook a sign you're a psychopath? Some employers and psychologists say staying away from social media is 'suspicious'
Mainstream Doctors Say Supporting the 2nd Amendment is a Mental Disorder
Medical Professionals for 9/11 Truth
They must be crazy.
I feel like I'm living in Stalinist Russia these days, readers. I call it AmeriKa for a reason.
Meanwhile, my reasons for being here and not there? There are some people from my past I don't want to have contact with. That's one reason. Many others. Fake friends is another. Then there is my unique Polish name and me not needing some nutcase coming to the house to beat me up. I'm not a young man. That's why I'm still reading the pos printed Boston Globe.
And how is that stock price doing?
"$28.76, down from their initial price of $38."
Still dropping:
"Facebook’s first public quarter proves solid" by Barbara Ortutay | Associated Press, July 27, 2012
NEW YORK — Facebook’s stock fell to $24.47 in after-hours trading....
But everything is just great says my headline and lead!
Facebook is reporting stronger-than-expected revenue in the social media company’s first earnings report since its rocky initial public offering two months ago.
But investors weren’t impressed and after a brief spike, its stock tumbled nearly 9 percent in after-hours trading.
Facebook Inc. said Thursday that it booked a net loss of $157 million, or 8 cents per share in the April-June period, mainly due to stock compensation expenses following its IPO....
Yeah, that's solid.
Related: Facebook Spent $700,000 On Mark Zuckerberg's Private Jets Last Year
The results come two months after Facebook’s stock landed with a thud on its first trading day, May 18. The day began with glitches with the Nasdaq stock market that delayed trading by half an hour. It didn’t get much better from there. Despite months of hoopla that had investors thinking it would soar, the stock closed just 23 cents above its $38 IPO price. It has not reached that level since then.
Though as its first public report, Facebook had a lot riding on this quarter, Wall Street’s expectations were muted, which could be a reason for the stock price decline.
Facebook had effectively warned investors before its IPO that Wall Street’s expectations were too high....
Talk about revisionist history! Only insiders were warned!
Analysts took that as a sign that their estimates were out of whack, and many of them reduced their estimates for Facebook’s projected revenue and earnings....
--more--"
More solidity: Facebook slides to a record low
"Facebook’s stock may face new test this week" by Somini Sengupta | New York Times, August 13, 2012
SAN FRANCISCO — Friday’s price was $21.81....
Getting as solid as a dried-out turd.
The Facebook spring is over. The dog days of August have taken hold.
In May, when investors tripped over themselves to have a piece of Facebook, not even the skeptics predicted what would happen. The shares have lost more than 40 percent of their value.
Actually, that is what the skeptics predicted.
WTF is with the AmeriKan media's brazen lying right to your face, dear readers?
The stock began to fall immediately after its debut; at first, technical glitches with the offering were blamed. But these problems do not account for the stock’s subsequent free fall, analysts and shareholders say. It can be traced to several factors, they say, among them the sheer size and price of the initial offering, early exits by major investors, and slowing growth.
Not least, the stock seems to have been jinxed by Facebook’s own fairy tale.
Unbelievable! Yup, the tanking stock fraud is somehow haunted by some sort of mysterious supernatural force.
You can't make this stuff up, dear readers, and I'm glad you are getting a full facial frontal in the kind of slop I'm subjected to every day when I open a Globe.
‘’The underwriters (and the media) did a great job of hyping Facebook leading up to the IPO, and the sell-side (including me) did a great job of hyping it after,’’ Michael Pachter with Wedbush Securities, an equity research firm, wrote in an e-mail.
And who were the underwriters? JPMorgan Chase, Goldman Sachs, Morgan Stanley, among others.
Still, some investors remain bullish. Facebook is profitable, it keeps its nearly 1 billion users glued for longer than any other Internet site, and it is aggressively experimenting with ways to drum up advertising — its main source of revenue....
It LOST $157 MILLION DOLLARS in its first profit report! HOW is that PROFITABLE?!?
The next test for the stock could come soon. Over 1.6 billion shares will be eligible to come on the market in several waves, starting Thursday, when a number of shareholders are allowed to sell. Investors may fear that an influx of shares could cause prices to fall even more.
And that is what is going to happen because people will be looking to get out of this loser by dumping the stock.
‘’It becomes a company perceived as vulnerable rather than invincible,’’ said David B. Yoffie, a Harvard Business School professor who sits on several technology company boards, though none that relate to or compete with Facebook.
Facebook executives say they remain focused on expanding.
One former Facebook employee, who did not want to be named because he did not want to damage his relationship with onetime co-workers, said he expected other employees to cash in their stock options as soon as they could. He predicted the stock’s woes could make it difficult to retain and hire talent. He no longer owns Facebook stock.
The public offering was pegged at a market value of over $100 billion. And the company’s growth figures seemed extremely alluring.
Facebook had raised its user base at rocket speed since its start in 2004, to 845 million in February. Revenue had swelled to nearly $4 billion in 2011 — nearly a fivefold increase in two years.
Facebook was only beginning to figure out how to make money from the stream of personal data that its users reveal about themselves.
Does the user get a cut? A dividend? A fee?
Facebook’s stock rallied briefly in June and settled at just under $30 by July. In late July, it took a hit when Zynga, which makes games to play on Facebook and shares revenue with the company, posted weak earnings. The next morning, after Facebook’s own earnings report, the shares slid again....
Just slip slidin' away, huh?
In the end, the performance of the company is what will matter. Facebook’s immediate challenge is making money on mobile, where more than half its worldwide users are logging in. It has only recently and cautiously started advertising in the mobile arena.
--more--"
Next Day Update:
"On Tuesday, the stock closed at $20.38"
Gee, I didn't see anything about the bot fraud and fake profiles in my Globe.
This is why I'm frowning on Facebook, readers.
Also see:
Fidelity fund managers sold 1.7 million shares of Facebook in June
FTC finalizes privacy settlement with Facebook
Oh, still violating your privacy, 'eh?
Update: Fidelity fund star an early Facebook fan
It's always nice to go back a few months and see what s*** was being shoveled. Now you know why I'm really not reading this stuff anymore. If it is not an elitist insult of some kind, it is some sort of agenda-pushing garbage.
