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Everybody I'm Gerri Willis look I'm no fan of the FaceBook IPO especially for small investors and let me tell you why.
Well actually there are lots of wise the chances that mere mortal can get the 38 dollar offer price is slim to not.
Only the super connected and those whose daddy is -- -- Sachs get to play.
If you're lucky and you can get your hands on the stock the first day you probably get the closing price which could be as high as 6070 maybe a hundred -- who knows.
Typically picking a winner Internet stock is tricky at best.
Of the top five performing Internet IPOs pre FaceBook.
Three are currently trading below their offer price -- -- offer price -- below the closing at first day close.
One of them and that is G annuity is actually bankrupt.
Only -- Google has been a raging success.
The big winners will be the insiders as always.
And -- cashing out as fast as they can take a look at this nearly 60% of the stock offering comes from current shareholders who were cashing out.
Bailing and moving on.
Maybe they believe like so many of us know that Internet companies have a short.
So happy life.
FaceBook at eight years of age is pretty long in the tooth and despite its reach 900 million users the pace of revenue growth is slowing.
GM recently pulled its ad dollars what's more the future of the company will be up to one -- this -- Mark Zuckerberg.
A brilliant programmer -- -- -- nor who has never run up public company.
He owns 55% of FaceBook after the IPO shareholders will have no voice in the company's direction.
So here's my advice don't --
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