I dont think it was a flop, it was offered fully valued with little left on the table.  Furthermore, the late decision to expand the float placed ample shares to be traded, unlike many other IPOs where only a small slither of shared were floated.  Go back and look at how many opening day high-flyers quickly came down.  You can expect FB to drop further, maybe to 20 before a sustained upside.  FB still have to prove it's model for monetizing and Google will be their nemesis.  I personally believe Google is a better buy in the long run.

Some of the stock savvy people made money, those who lined up early, bought millions worth at the starting price $38.00 and sold off when it spiked at $48.00....  

Yes, but you can rest assure, those were not Joe public but those who were offered shared, the under-writers etc.  They held back, when it surged, they sold.  I'm sure very few "Buy" limit orders placed by the open market were filled, maybe they were on the way down.

FACEBOOK SHARES FALL BELOW IPO OFFERING PRICE

Facebook shares [FB  34.03    -4.2018  (-10.99%)   ] sank on Monday without the full support of the company's underwriters, leaving some investors down 25 percent from where they were Friday afternoon

http://www.cnbc.com/id/47503280

Like the Rev said in the lead post---only suckers would buy facebook shares---Facebook is a fad company selling advertising to people who hang around posting pictures of themselves doing a lot of crazy stuff.

Rev