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Facebook, Inc. (FB) Message Board

  • bigrobeight bigrobeight Dec 7, 2012 1:34 PM Flag

    " Facebook quickly lost friends in the months after it IPO. "

    " Facebook quickly lost friends in the months after it IPO. "

    "The WSJ reported last month that mutual funds run by three of the banks that helped Facebook go public were quick to flock to the stock and were also among the first out the door."

    "Those mutual funds were not alone. SNL Financial reports that U.S. insurers bought a combined 959,000 shares of the social-media company in second quarter and third quarter. Those firms sold 784,000 during the same time, including more than 625,000 in the third quarter alone."

    "Collectively, the industry lost $2.4 million on the stock sold. State Farm alone had a $1.5 million loss, says SNL, a -16% return on investment. Among the 10 biggest purchasers, Metlife posted the largest profit, albeit just $28K. Allstate is the lone big purchaser of Facebook shares to not have sold any shares it bought since May’s IPO."