Cuban Purchases $4.8M In Facebook Stock
Mark Cuban purchased over $4.8 million worth of Facebook shares.
In a post entitled 'Facebook IPO Post Mortem - Killer - but not for the reasons you think!', Cuban discloses that he purchased three sets of 50,000 shares of Facebook at $33, $31.97 and $32.50 apiece.
Cuban was critical of the Facebook IPO, citing the effect it will have on individual investors and that the valuation bubble of Silicon Valley companies is bursting.
Cuban described his purchase of Facebook stock as "a trade, not an investment. 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."