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here's the pricing chart for today [1]. What makes you think it was supported -- the flat line beginning at 334 pm? [1] http://finance.yahoo.com/echarts?s=FB+
by earl 14y ago
here's the pricing chart for today [1]. What makes you think it was supported -- the flat line beginning at 334 pm?
[1] http://finance.yahoo.com/echarts?s=FB+Interactive#symbol=fb;range=1d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined http://finance.yahoo.com/echarts?s=FB+Interactive#symbol=fb;...;
- loumf 14y agoYes, that and the rally at almost exactly that level a little before 12pm
- kami8845 14y agoThere's also similar things going on around 40. Any chance they tried to hold the round 10?
- maayank 14y agoIt was supported: http://www.businessinsider.com/chart-of-the-day-why-facebook-never-fell-below-38-per-share-2012-5 http://www.businessinsider.com/chart-of-the-day-why-facebook... A possible reason why it reached 38 in the first place: http://www.businessinsider.com/why-facebooks-ipo-pop-fizzled-nasdaq-isnt-telling-desks-if-they-got-their-stock-2012-5 http://www.businessinsider.com/why-facebooks-ipo-pop-fizzled...
- sks 14y agoWell the price did come very close to $38 several times (twice before 12:00 and then during the flat part at 3:34 that you mentioned) but the price never crossed below $38. This does show a lot of resistance/support at $38
- encoderer 14y agoYes, of course, because the underwriters in an IPO act as market-makers at the IPO share price. That's their function in exchange for making an obscene profit taking a company public.
- nextparadigms 14y agoI watched it go to down to 38.00, and then went up again 0.01, 0.02, etc, slowly. I don't think it dropped at all under 38.00, and it was most likely manipulated.