Courtesy of Pam Martens
Facebook CEO Mark Zuckerberg Testifies Before Congress on April 10, 2018 on His Company’s Failings
Being called a “digital gangster” by an investigative committee of the United States’ closest ally, the United Kingdom, might have been expected by the rational among us to do some serious damage to the share price of Facebook when it opened for trading this morning. The U.K. report was released yesterday when U.S. markets were closed for Presidents’ Day. But by this morning’s opening bell, it was business as usual for the serially investigated Facebook. Facebook closed Friday at $162.50 per share and opened this morning at $160.50. After a half hour of trading, Facebook’s stock was off a mere 63 cents.
America is now the political dystopia ruled by Wall Street banksters and digital gangsters so the stock market no longer punishes corporate criminality. In fact, there is ample evidence to suggest that it rewards it. Just look at how the stock of JPMorgan Chase has fared since its three criminal felony counts, to which it pleaded guilty, in 2014 and 2015: its share price has skyrocketed from $60 to $104.
As of Friday’s close, Facebook’s market capitalization (the total value of all of its shares outstanding) stood at $463.77 billion, putting it in the top 10 list of the most valuable publicly traded companies in the U.S. Facebook’s share price isn’t supported by a cash dividend because it doesn’t pay out even a penny to shareholders in a regular quarterly dividend. Even in the midst of a steady stream of scandals about its misuse of users’ private data and allowing its platform to become the playground of Russian disinformation agents, its share price hit an all-time high of more than $200 per share in July of last year.
One possible explanation for Facebook’s share price resilience is the fact that the Wall Street banksters are actively engaged in clandestine trading of the digital gangsters’ stock while the analysts at those banks are putting out “buy” ratings on Facebook.
According to tipranks.com, JPMorgan Chase, Goldman Sachs, and Credit Suisse all have buy ratings on Facebook. According to Wall Street’s self-regulator, Finra, those same Wall Street banks are actively trading the shares of the company in their own Dark Pools – unregulated stock trading platforms owned and operated inside the global banks.
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