April 24, 2014

Breaking News:

Keyshawn Johnson Arrested -

Monday, April 21, 2014

Chris Brown’s Bodyguard Found Guilty -

Monday, April 21, 2014

Knicks Fire Mike Woodson -

Monday, April 21, 2014

Earthquake Shakes Mexico City -

Friday, April 18, 2014

Suspicious Packages Found At Boston Marathon -

Wednesday, April 16, 2014

200 Hundred Dead Or Injured In Bus Station Bombing -

Monday, April 14, 2014

Aldon Smith Arrested At LAX -

Sunday, April 13, 2014

Three Dead In Jewish Community Center Shooting -

Sunday, April 13, 2014

Stephen Colbert Named New Host Of The Late Show -

Thursday, April 10, 2014

UMass Guard Becomes First Openly Gay Player In D-1 Basketball -

Wednesday, April 9, 2014

Six Injured In High School Stabbings -

Wednesday, April 9, 2014

Active Shooter Reported At Portsmouth Naval Hospital -

Tuesday, April 8, 2014

Judge Rejects Request To Dismiss Chris Brown Case -

Monday, April 7, 2014

U.S. Pinger Locator Detects Signal -

Monday, April 7, 2014

Ship Detects Pulse Signal In Search Of Missing Plane -

Saturday, April 5, 2014

7.8 Aftershock Shakes Chile -

Thursday, April 3, 2014

Shooting Reported At Fort Hood -

Wednesday, April 2, 2014

5.8 Earthquake Strikes Off Coast Of Panama -

Wednesday, April 2, 2014

Tiger Woods Withdraws From The Masters -

Tuesday, April 1, 2014

North Korea, South Korea Exchange Fire Near Border -

Monday, March 31, 2014

Mark Cuban Sells Facebook Stocks

( 4UMF NEWS ) Mark Cuban Sells Facebook Stocks:

The owner of the Dallas Mavericks got caught up in the hype surrounding the Facebook IPO launch a month ago and snapped up 150,000 of the social media giant’s shares, but the excitement was short-lived.
Today, the gregarious self-made billionaire announced that he sold all of his shares after admitting that he took a hit in the market.

‘My thesis was wrong,’ Cuban said in a CNBC interview. ‘I thought we’d get a quick bounce just with some excitement about the stock. I was wrong, and when you’re wrong you don’t wait, you just get out. I took a beating and left.’

Late last month, Cuban disclosed on his blog that he had bought nearly $5million worth of Facebook shares in three separate purchases, the Wall Street Journal reported.

He said he purchased 50,000 shares at $33, another 50,000 at $31.97 and 50,000 at $32.50. All three investments are currently underwater.

On Tuesday, Facebook was up 4.2 per cent at $31.26, but still down about 18 per cent from its $38 IPO price. It means that at the current price, Cuban lost nearly $200,000 on his investment. At the time of the IPO launch, Cuban described the move as ‘a trade, not an investment’ and compared it to trading baseball cards.

The loss, however, is just a drop in the bucket for the 53-year-Cuban, whose net worth stands at $2.3billion, and who is the 188th richest person in the U.S., according to Forbes.

‘It was gambling money, to be honest with you,’ he said on Monday. ‘Any time you try to time the market, you get what you deserve. Sometimes you’re right. Sometimes you’re wrong. This time I was wrong.’