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(Gawker)   @twitter #ipo #lockup #fail   (valleywag.gawker.com ) divider line
    More: Fail, IPO, Twitter  
•       •       •

2637 clicks; posted to Business » on 07 May 2014 at 11:21 AM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



44 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

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2014-05-07 09:01:35 AM  
White people problems.
 
2014-05-07 09:51:18 AM  
The executives are cashing out just fine.  The plebes will have their chance once the important people have pocketed their money.
 
ZAZ [TotalFark]
2014-05-07 09:59:28 AM  
Is anybody financially liable to employees who try to sell but can't? My recollection of having shares that were above water says this glitch could fall into a hole between the two normal disclaimers of liability (Delaware corporations always win against shareholders, and stock trading contracts require waiver of the right to sue).
 
2014-05-07 10:33:06 AM  
I thought I gave no farks but I'm actually laughing to myself so there's something in there.
 
2014-05-07 11:38:21 AM  
Twitter = Enron and Worldcom of our time.

The exec's are screwing the peons and lying to the general public... typical dotcom elitist mentality!  Hang 'em high!
 
2014-05-07 11:38:57 AM  
Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.
 
2014-05-07 12:03:06 PM  

Swampmaster: Twitter = Enron and Worldcom of our time.


What is the color of the sky in your world?
 
2014-05-07 12:03:48 PM  
FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant wording?
 
2014-05-07 12:05:47 PM  

Swampmaster: Twitter = Enron and Worldcom of our time.

The exec's are screwing the peons and lying to the general public... typical dotcom elitist mentality!  Hang 'em high!


Enron and Worldcom had real revenue, so it's a totally different situation.
 
2014-05-07 12:07:35 PM  

fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.


I have known three day traders, and they all eventually went broke.
 
2014-05-07 12:08:19 PM  

Swampmaster: Twitter = Enron and Worldcom of our time.


????

You think twitter is lying in their financial statements?  If so, why wouldn't they lie themselves a profit?

Swampmaster: The exec's are screwing the peons and lying to the general public... typical dotcom elitist mentality!  Hang 'em high!


The executive sales were likely planned 6+ months ago and via a different service that is dedicated for planned insider sales and takes care of all of the legal what-nots of insider sales.  The employees are likely going through the regular Schwab employee equity compensation portal, which is steaming pile of manure - while I've never had problems selling through there, the interface blows and they have glitched up my distribution before and took weeks to resolve it (which sucked since it was a healthy chunk of change).

This is most likely incompetence (on Schwab's part), not malice.
 
2014-05-07 12:19:19 PM  
I remember when they had the lock out period for RedHat.  I think they IPO'ed in September and the lockout ended in February.  It was like an announcement to the world when to short the stock.
 
2014-05-07 12:28:07 PM  

Muta: I remember when they had the lock out period for RedHat.  I think they IPO'ed in September and the lockout ended in February.  It was like an announcement to the world when to short the stock.


And this sort of thing doesn't really mean the company has problems; all it means is that various employees want to partially or fully cash out.
 
2014-05-07 01:12:07 PM  

Gary-L: FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant and superfluous wording?

 
2014-05-07 01:16:53 PM  

Geotpf: Muta: I remember when they had the lock out period for RedHat.  I think they IPO'ed in September and the lockout ended in February.  It was like an announcement to the world when to short the stock.

And this sort of thing doesn't really mean the company has problems; all it means is that various employees want to partially or fully cash out.


Enron should have been the last story of its kind, but people never think it will happen to them.
 
2014-05-07 01:19:19 PM  
This is why I avoid any stock with no inherit value... Twitter and Facebook are the two biggest examples.
 
2014-05-07 01:36:54 PM  

fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.


Shorting is not derivatives.
 
2014-05-07 01:37:18 PM  
Thats why I invest in Dogecoin...
 
2014-05-07 01:37:32 PM  
Twitter is arguably the second most important site on the Internet, next to Google. Maybe third if you put up Amazon.  There is no better source of news anymore, and there is nothing close to competition in that regard. Facebook and other social media sites are playing a different game.

To me, I'd invest in Twitter because the revenue to be made is secondary to that fact. They'll figure out how to monetize it, if they haven't already. The main this is it's not going away anytime soon.
 
2014-05-07 01:38:06 PM  

Gary-L: FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant wording?


Because with today's 24 hour news cycle, they themselves are repetitive and redundant?
 
2014-05-07 01:38:33 PM  
The main thing* is....

/FTFM
 
2014-05-07 02:08:52 PM  

OptionC: You think twitter is lying in their financial statements? If so, why wouldn't they lie themselves a profit?


Because they're reverse vampires.

Duh-uuuuh.
 
2014-05-07 02:09:16 PM  
Twitter executives were overheard saying, "fark them, got mine."
 
2014-05-07 02:30:04 PM  

Shazam999: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

Shorting is not derivatives.


I beleive he's referring to put options.
 
2014-05-07 02:35:40 PM  

Sim Tree: Shazam999: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

Shorting is not derivatives.

I beleive he's referring to put options.


Using put options is not short selling.
 
2014-05-07 02:48:10 PM  

homarjr: They'll figure out how to monetize it, if they haven't already.


They haven't already.  That's why they keep losing half a billion dollars a year.  That's kind of the point.

Faith that you will one-day figure it out can only go so far.  Eventually the money runs out before you do.

The stock price reflects publish faith they'll get there in time.  I hope they do, but I still wouldn't buy right now.
 
2014-05-07 03:02:49 PM  

jaerik: homarjr: They'll figure out how to monetize it, if they haven't already.

They haven't already.  That's why they keep losing half a billion dollars a year.  That's kind of the point.

Faith that you will one-day figure it out can only go so far.  Eventually the money runs out before you do.

The stock price reflects publish faith they'll get there in time.  I hope they do, but I still wouldn't buy right now.


Sad, isn't it? Because I stand by what I said about them being a very important company. It would be awful if Twitter shut down because they couldn't make enough money (not that I think they're in any threat to lose their entire business).

Facebook had the same issue not too long ago, and they've essentially recovered. The bigger problem they have is that kids aren't using it as much anymore. I think Facebook has a ways to go before it's taken out by a competitor, but I still think it's much more likely to happen than to Twitter.
 
2014-05-07 03:32:53 PM  

Marcus Aurelius: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

I have known three day traders, and they all eventually went broke.


I only know one so my data set isn't great but the one I do know assumes the identity of a successful entrepreneur: he, his wife and 3 kids live in expensive part of town, drive 'spensive cars, look the part etc.....except his wife broke down one day to my friend and confessed he hasn't made a farkin' penny in years. She's been supporting everyone and he's been using his trust fund to pay the bills. He's a farkin' fraud.

/nice guy, mind.
 
2014-05-07 03:48:21 PM  

jaerik: That's why they keep losing half a billion dollars a year.


GAAP loss != cash loss

From Twitter Inc.'s Q4 FInancials (emphasis mine):

Net loss - GAAP net loss was $511 million for the fourth quarter of 2013 compared to a net loss of $9 million in the same period last year. The company's Q4 GAAP net loss included $521 million of stock-based compensation expense, of which $406 million was for restricted stock units previously granted to employees, for which no expense had been recognized, until the effective date of our initial public offering in accordance with GAAP.
 
2014-05-07 03:49:05 PM  

machoprogrammer: This is why I avoid any stock with no inherit value... Twitter and Facebook are the two biggest examples.


Are you serious?  Have you seen how well FB stocks have been doing?  No one's laughing about their IPO anymore.
 
2014-05-07 04:04:35 PM  

stellarossa: Marcus Aurelius: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

I have known three day traders, and they all eventually went broke.

I only know one so my data set isn't great but the one I do know assumes the identity of a successful entrepreneur: he, his wife and 3 kids live in expensive part of town, drive 'spensive cars, look the part etc.....except his wife broke down one day to my friend and confessed he hasn't made a farkin' penny in years. She's been supporting everyone and he's been using his trust fund to pay the bills. He's a farkin' fraud.

/nice guy, mind.


As long as we're csbing, here goes...

I've known about a dozen who have tried their hand at "day trading". Don't know if they all fit the bill because as I understand it, true day traders close out their positions by the end of the day. But they all traded quite frequently, and all of them lost money consistently. Every single one of them. I know this because I prepared their tax returns.

Three of these day traders were friends with each other. One of the guys (we'll call him Dan - not his real name) told his other friends that he was making a killing in 2013. The other two guys had visited me first had expressed their dismay that they had lost a pretty good amount of money last year. One of the guys told me, "Just wait to you see Dan's numbers. That guy KILLED it! He bought himself a new Jaguar and said he's thinking about buying a house in Kahala." (very expensive neighborhood here in Honolulu)

When Dan visited me, I saw that he LOST over $10k last year. His "success" was all lies.

I realize that my story is just one anecdote, but most of the articles I've read about day traders seems to conclude that a large majority of them lose money.
 
2014-05-07 05:15:41 PM  

machoprogrammer: This is why I avoid any stock with no inherit value... Twitter and Facebook are the two biggest examples.


While you're correct in that they don't have much in the way of valuable physical assets (like Amazon) or partnerships (like Netflix or Hulu), the inherent value for companies like Facebook or Twitter (or Google, to a certain extent) is the data they collect from their customers, and their use of that data to sell targeted advertising. Their users are their inherent value.
 
2014-05-07 05:41:46 PM  

qorkfiend: machoprogrammer: This is why I avoid any stock with no inherit value... Twitter and Facebook are the two biggest examples.

While you're correct in that they don't have much in the way of valuable physical assets (like Amazon) or partnerships (like Netflix or Hulu), the inherent value for companies like Facebook or Twitter (or Google, to a certain extent) is the data they collect from their customers, and their use of that data to sell targeted advertising. Their users are their inherent value.


And users are fickle, so hence their lack of value.
 
2014-05-07 05:54:42 PM  

Atomic Spunk: When Dan visited me, I saw that he LOST over $10k last year. His "success" was all lies.


It's like hitting the horse track or an OTB with a serial gambler. Ask them how they've been doing and they'll hold up a single ticket with some kind of exotic superfecta and claim their greatness, all the while telling you not to pay attention to the crumpled, two-foot pile of missed bets laying at their feet.
 
2014-05-07 07:03:12 PM  

Gary-L: FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant wording?


Because plummet describes how it is going "down". The stock could ease down, it could float down, it could lurch downward sharply, it could waft gently down 17% to it's pre-bubble level over a period of three months. In this case it is going down fast and hard, like your mother at a VFW picnic.

 Words mean things. Some words serve to refine or enhance the meaning of words describing more general concepts.
 
2014-05-07 09:09:20 PM  

Atomic Spunk: I realize that my story is just one anecdote, but most of the articles I've read about day traders seems to conclude that a large majority of them lose money.


Yup. The house always wins. The only ones that seem to make money daytrading are the big institutional investors with supercomputers making the trades for them. The supercomputers will see and execute any real deals to be had a hundred million times faster then you can.

Whenever you treat anything as gambling, remember well gambling's only rule.
 
2014-05-07 09:53:49 PM  

gunther_bumpass: Gary-L: FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant wording?

Because plummet describes how it is going "down". The stock could ease down, it could float down, it could lurch downward sharply, it could waft gently down 17% to it's pre-bubble level over a period of three months. In this case it is going down fast and hard, like your mother at a VFW picnic.

 Words mean things. Some words serve to refine or enhance the meaning of words describing more general concepts.

plum·met
ˈpləmit/
verb
verb: plummet; 3rd person present: plummets; past tense: plummeted; past participle: plummeted; gerund or present participle: plummeting
1
.
fall or drop straight down at high speed.
"a climber was killed when he plummeted 300 feet down an icy gully"
synonyms:https://www.google.com/search?safe=off&biw=1586&bih=944&q=de fine+plung e&sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCcQ_SowAA">plunge, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+nosed ive&sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCgQ_SowAA">nosedive, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+dive& sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCkQ_SowAA">dive, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+drop& sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCoQ_SowAA">drop, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+fall& sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCsQ_SowAA">fall, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+desce nd&sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CCwQ_SowAA">descend, https://www.google.com/search?safe=off&biw=1586&bih=944&q=define+hurtl e&sa=X&ei=peJqU5bWDdXtoATkwoC4AQ&ved=0CC0Q_SowAA">hurtle More
"the plane plummeted to the ground"
decrease rapidly in value or amount.
"hardware sales plummeted"
synonyms:fall steeply,plunge, tumble, drop rapidly, go down, slump; More informal: crash, nosedive
"share prices plummeted"
noun
noun: plummet; plural noun: plummets
1
.
a steep and rapid fall or drop.
2.
a plumb or plumb line.


Use of the word "down" is unneeded as it is already implied by using the word "plummet".  "Plummet down" is redundant, idiotic, and poor diction.
 
2014-05-07 10:30:10 PM  
"Technically correct" - the battlecry of the insufferable pedant.
 
2014-05-07 10:33:20 PM  
Or should I say: for every asshole that can't tell the difference between 'lose' and 'loose', there is an equal but opposite asshole that must adhere strictly to the rules, without allowance for colloquial usage and style.

/You pronounce it 'jiff', don't you?
 
2014-05-08 12:40:12 AM  

Shazam999: Sim Tree: Shazam999: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

Shorting is not derivatives.

I beleive he's referring to put options.

Using put options is not short selling.



You know what I meant--I did mention that whole derivatives thing isn't my game.

Marcus Aurelius: I have known three day traders, and they all eventually went broke.


He was smart enough to get out before he regretted it. The netting $65k was after being up over $100k, and seeing part of it slide away. He figured it was better to cut and run, rather than chase the "lost" $35,000.
 
2014-05-08 01:35:40 AM  

Marcus Aurelius: fickenchucker: Mt buddy tripled his money shorting the stock yesterday morning.   Playing derivatives isn't for me, but he made more in 30 minutes than I did last month.

/He used to day-trade, too--netted $65k over a few months.
//Then his biatch wife left and took his investing nest egg--he's slowly rebuilding.
///The perfect karma is she's in a shiatty apartment, and he's in a house already.

I have known three day traders, and they all eventually went broke.


The game is rigged against the investor that tries to time the market. Plus the Fed is basically telegraphing to individual investors that it will (or at least has for the past 5 years) prop up the S&P 500. BTFD
 
2014-05-08 04:39:03 AM  
 gunther_bumpass: Gary-L: FTA: Twitter's stock is currently plummeting down almost 17 percent,

I've never heard of anything "plummeting upward".   Why do today's (alleged) writers always use repetitive and redundant wording?

Because plummet describes how it is going "down". The stock could ease down, it could float down, it could lurch downward sharply, it could waft gently down 17% to it's pre-bubble level over a period of three months. In this case it is going down fast and hard, like your mother at a VFW picnic.

 Words mean things. Some words serve to refine or enhance the meaning of words describing more general concepts.
plum·met
ˈpləmit/
verb
verb: plummet; 3rd person present: plummets; past tense: plummeted; past participle: plummeted; gerund or present participle: plummeting
1.
fall or drop straight down at high speed.
"a climber was killed when he plummeted 300 feet down an icy gully"



I hear ya, but did you read the first sample usage of the word? :)
 
2014-05-08 12:00:22 PM  

fickenchucker: You know what I meant--I did mention that whole derivatives thing isn't my game.


No I have no idea what you meant because shorting stock and using derivatives are not even related to each other.

You do realize that derivatives actually have a real use, right, other than futzing around on the "stock market".
 
2014-05-08 06:16:04 PM  

Shazam999: fickenchucker: You know what I meant--I did mention that whole derivatives thing isn't my game.

No I have no idea what you meant because shorting stock and using derivatives are not even related to each other.

You do realize that derivatives actually have a real use, right, other than futzing around on the "stock market".



He admitted he didn't know what it was called. It's a derivative that's like shorting stock.
 
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