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Need to make them happy I'm let me -- -- mark bush Cheney chief investment strategist at Janney Montgomery at.
You don't on the shares you're not going to on the shares but what is the thought behind that.
Well looks a little more interesting since it did pop up significantly above -- IPO price change -- -- -- well not terribly disappointed that I didn't get any shares on the IPO is a consequence.
I know not really -- mean from a valuation standpoint to -- we still trading at about 29 times sales and that's a little rich for a valuation metrics.
But nonetheless nobody can deny the popularity.
And what we would like to see come through his obviously that it can grow in -- monetization.
Of its profit such that.
He sees some collapse in the multiple to support the kind of company growth that one would expect to pay for.
When you're owning shares -- -- -- trading at a hundred million dollar market capitalization.
On this first day of publicly -- being a publicly traded companies so won't be patient we may get a better opportunity to market as a way of doing that for us.
And they'll wait and see if it continues deliver on promises of -- correct what angle interest -- most about a day like today.
Well Lou as you know we've seen this all week long and really for a couple of weeks right this whole social media egos fear a lot of and it feeds off of FaceBook itself -- when you think about the group bonds.
The -- is and the like these talks have been on the rise coming into this particular offering -- -- it's expected to lift all boats in fact it's been the opposite.
That has played out in today's session IPO traders and investors have been telling me it's basically.
Clearly a sell the news event take a look at this particularly when FaceBook.
Failed to have produce that huge pop which -- -- with the likes of Linkedin which we should also -- had a tiny -- -- a tiny amount of shares offered last year particularly compared to Facebook's off crazy these shares.
Taking in today's session in fact you body got a lot of people bailing out of them who had bought in pretty short term they've got the likes of -- -- below a hundred bucks for the first time since April.
You've got zine got take a look at seeing it it has been hit circuit breakers not once.
But twice to halt trading today because there's been so much downward pressure.
On the shares today there at -- new lifetime low today touching that in today's session.
Also -- had -- -- a fresh lifetime low as well lists of clearly investors bailing out of the social media stocks at least today.
But it -- it'd been a lot of hot money if you will hedge -- the short term traders coming into these ahead of the IPO FaceBook and selling out in today's action.
Extraordinary to twice Zynga was halted because it was falling so dramatically --
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