Posted on: 18-05-12 11:18:26
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IPOs don't usually start trading at the start of the trading session. There is no definite time, but it should start trading shortly...
And while I agree that the stock price cannot be justified by the current FB model, it is not all hype. The model if properly leveraged is a very profitable one and there is still huge potential. The big question is will Zuck drive the company to realize it?
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There...it just started! :-)
Ash, I am not being bullish on FB, the $100 was a hyperbole. I don't think it will reach there. Would be interesting to get some thoughts form CDs on what the closing price today will be.
My wager is around $50
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From CNBC live Blog on facebook by Gloria McDonough-Taub edited by Gloria McDonough-Taub 11:40 AM
My colleague Robert Hum just put this together: At 11:30am (11:30:09am to be exact), Facebook opened at $42.05 with the ceremonial 100 share lot. One second later, the first major print was posted for Facebook – 75.7 million shares at $42.00. 7 minutes into trading, over 110m shares have traded. Today’s high is $45.
Already down to $38 - this is nothing like I remember of the good ole' dot com IPO days :-). Probably a good sign.
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It is not all that exciting. Oh! the good old days of MA and V.
