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Thread: Citigroup Lost $20 Million on Facebook IPO Trades

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    Citigroup Lost $20 Million on Facebook IPO Trades

    Gotta love this...one Big bank is being investigated and sued for fraud over Facebook and another big bank loses lots of money
    One makes a 100,000,000 the other loses 20,000,000 and others lost even more...must be the snakes cant feed off the middle class anymore...they dont have anything left...so they are feeding off themselves now.



    Citigroup's Automated Trading Desk (ATD) had trading losses of around $20 million stemming from Facebook's botched initial public offering on Nasdaq OMX Group's U.S. exchange, a source with knowledge of the situation said on Friday. The unit's losses were in addition to claims by market makers Knight Capital Group and Citadel Securities, which each had losses of $30 million to $35 million.


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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    I am sort of partial to FB because it brought me and my fiance together. (We knew each other before the internet went public) we reconnected on FB. Plus I have reconnected with a few lost friends from the USAF. But on the whole, Zuckerman keeps trying to kill his own company. I have yet to hear anyone say that the timeline is better than the wall format. And the IPO mess sheesh. I do wonder if somehow that got sabotaged, but still, why the need to go public? I guess 20 billion is just not enough money these days in a tough economy. Imagine how the rest of us have to deal with it with 19.999 billion less.

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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Quote Originally Posted by 00timh View Post
    I am sort of partial to FB because it brought me and my fiance together. (We knew each other before the internet went public) we reconnected on FB. Plus I have reconnected with a few lost friends from the USAF. But on the whole, Zuckerman keeps trying to kill his own company. I have yet to hear anyone say that the timeline is better than the wall format. And the IPO mess sheesh. I do wonder if somehow that got sabotaged, but still, why the need to go public? I guess 20 billion is just not enough money these days in a tough economy. Imagine how the rest of us have to deal with it with 19.999 billion less.
    Why should Zuckerman care about his own company now? He made a killing off the deal.
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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Quote Originally Posted by danarhea View Post
    Why should Zuckerman care about his own company now? He made a killing off the deal.
    Yeah, I know, I guess I still live in the old fashioned world where the owners/CEO's cared about their company, its people and had pride in it. Its just not the case today. Make 20billion and then whatever happens they just don't give a rats.

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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    $20 million was hedged, I'm sure. I'm sure people have lost higher percentages than what Citigroup lost. Have you seen how far it's plummeted? It's lost about 30% of it's value already and I have read that many believe it should have IPO'd at around $15.
    Last edited by whysoserious; 06-02-12 at 11:05 PM.
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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Quote Originally Posted by 00timh View Post
    Yeah, I know, I guess I still live in the old fashioned world where the owners/CEO's cared about their company, its people and had pride in it. Its just not the case today. Make 20billion and then whatever happens they just don't give a rats.
    That universe you speak of?

    Never existed.
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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Zuckerman understands that FB is racing to be another myspace. Someone will build a better mousetrap. Going public only reinforces his intelligence.

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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Quote Originally Posted by danarhea View Post
    Why should Zuckerman care about his own company now? He made a killing off the deal.

    Let's remember that he still owns most of his stock. You could have said the same thing with the Microsoft founders or any number of tech billionaires and be wrong.

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    Re: Citigroup Lost $20 Million on Facebook IPO Trades

    Quote Originally Posted by danarhea View Post
    Why should Zuckerman care about his own company now? He made a killing off the deal.

    Let's remember that he still owns most of his stock. You could have said the same thing with the Microsoft founders or any number of tech billionaires and be wrong.

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