Michael Barton

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Wednesday, September 26, 2012

Facebook Shares to Fall Further?

After their rally through September, Facebook shares have slipped away again. Not surprising really. They were overpriced by quite some margin going into the IPO, and are still around 45% below the public offer price of £38.

Unfortunately the price was ramped by greed, corruption, and fraud going into the IPO. In fact, the stock price has been overplayed for a good few years. In my opinion its still a deal higher than fundamentals and the business dictate.

Brokers made hundreds of millions from dealing Facebook shares before you even got a look in. Friends of the firm made even more. Facebook didn't tell you about its waning advertising revenue. Investment advisers never questioned the numbers. All the insiders with influence sold a bucket load of shares to the public, and increased those numbers just before the issue. It was a great marketing job.

But the real story began in 2007, when ex-employee Vince Thompson wanted to sell his shares. So a new market opened up that would allow billions to be made from deceit, lies, and even thin air!

Read all about it:

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