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News Link • Business/ Commerce

My prediction about Facebook came true


Two years ago, I wrote about the origins of Facebook. The company had gone public with its IPO, which was tanking badly.

Here are key excerpts from the article:

"But now the Facebook stock has tanked. On Friday, August 17, [2012] it weighed in at half its initial IPO price. For the first time since the IPO, venture-capital backers were legally permitted to sell off their shares, and some did, at a loss."

"This has the earmarks of a classic shakeout and squeeze play?First, they [insiders] drive down the price of the stock, then they trade it at low levels that discourage and demoralize the public and even semi-insiders. As the stock continues to tank, they quietly buy up as much of it as they can. Finally, when the price

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