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We keeping a very close eye on FaceBook off course and -- the company now from Miami market watcher Shah Gilani with money morning.
Awarded just give me your overall impression he -- what do you think about the sell off.
As far as FaceBook -- -- I called it on Friday face plant it is what it is.
They make absolute mess of the IPO in terms of what NASDAQ has done nothing -- primarily to blame.
I think it's far the best of bankers are concerned -- did an excellent job actually pricing the stock.
But I think because the -- is that NASDAQ we have resistance in terms of the investors didn't know whether they had can't firms that were.
Indicative of whether or not they bought the stock and the whole thing -- -- model that there's a selling pressure here and I think it's gonna continue for a little while.
We you know as a thought if I were small investor able to move in and out of FaceBook if I was able to do that.
I'd be inclined to put in a bid for a hundred jazz right now my problem would be.
I'm not sure I'd get those hundred chance I'm not sure whether they could tell me whether I got those hundred -- or what price -- actually bullish.
That's a problem as it.
I don't think today that's the problem I think today Stuart I think anybody who would have put the trading would be assured of a car from a good -- from today and I think in a timely basis.
The problems with the Friday's opening price and the matching of -- about the day and this is in the system I think today the system has been fixed hopefully.
But I don't imagine they're gonna have any Contra problems today so investors probably safe to go into that -- now that's interest I don't I don't price -- I don't know five I I certainly wouldn't be happy to go and here I wanna see how this thing.
Settled out before I would ever take stab at the stock.
Now before Morgan Stanley move the price up to 38 just before the IPO last week before then.
That the people was saying look the real market price -- off -- FaceBook should be 32 may be 35 in that range kind.
You agree -- that -- thirty to 35 -- should be aware roughly where it should be.
This is to me like throwing darts at a moving target I don't know that anybody -- a handle on where FaceBook should be trading in terms of the valuation of the company.
It's just -- on now we don't know how to really value this type of -- with 900.
Members if you will and what is potential earnings revenues are based on its potential who knows where it could be worked out but it could be worth down the road.
At the present we have no idea that we just taking stabs at valuations so.
In the free in in -- as secondary markets.
Prior to it actually coming public it was trading at 44 dollars so.
The range is why you couldn't continue to be why.
Has it today 3334 dollars and show you wouldn't -- -- -- on.
-- I -- I wanna see how this -- that they actually falls out and if it goes the lower at some point I would be bar longer term yes I would be a buyer FaceBook I don't know what what levels but at some point yes I hope this settled out.
And I want to see actually what Zuckerberg does running the company.
And yes -- long term it's a it's a good place -- -- Shah --
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