Facebook IPO

The Facebook IPO was a flop however since it has fallen from $45 to $31 in 3 days everyone is now crying foul and saying they were ripped off in the process.  However back in late 1999 VA LINUX (LNUX) came out as an IPO and reached just over $300 it's first day of trading.  It has never gotten close to that price since then and now trades just over $14 as GKNT.  However keep in mind it did a 1:10 reverse stock split in 2010 so in reality the late 1999 price in real dollars was over $3000 a share.  Nothing is a given in the market so those that were looking to make a quick profit off of the overvalued Facebook IPO got what they deserved just like those who bought LNUX at the open back in late 1999.