Billionaire and owner of the Dallas Mavericks, Mark Cuban, has purchased 150k shares of Facebook. The purchase is valued at nearly 5 million dollars. The breakdown of shares are 50,000 at $33, 50,000 at $31.97 and 50,000 at $32.50. Although Facebook hasn’t taken off as expected on the market he still sees some upside. Here is an excerpt from his blog:
“It’s a trade, not an investment,” he writes. “Kind of like buying a Mickey Mantle, a Hank Aaron and a Barry Bonds rookie card knowing there is a card show in town next week.”
What you call money, he pays more in taxes…
{ 3 comments… read them below or add one }
Is this fool tying to pump and dump? smh
facebook is talking about switching from NASDAQ to NYSE.
he’s anticipating a bump in the stock because they’ll trade on a more prominent exchange.
my humble $0.02.
This is strictly a PR move. Don’t fall into his trap!
They are preparing for the common folks to invest soon & all the hype is dead!
Stay away!