FB Stock: Facebook IPO Shares' Price Hovers Around $38 Friday Afternoon
Facebook Shares' Price Post FB IPO Hovers Around $40 a share; Dow on track for worst week of the year
NEW YORK, NY - At time of this article, FB shares are trading at 40.03 +2.03 (5.34%), up just a little from the initial IPO stock price of $38. However, the trading day is not over and the future remains to be seen when it comes to how well FB stock will do over the next few months and years.
Additionally, those wondering if the Facebook IPO is the sign of another dot com bubble will not need to wait long to see how the market reacts to the largest tech IPO in history and the third largest IPO of all time - behind Visa and General Motors.
The media has been watching the Facebook IPO carefully. The LA Times recently wrote:
The inauspicious opening suggests that retail investors paid close attention to reports of soft financials and big selling by insiders. Still, Facebook raised $16 billion in what will go down as the third-largest public offering in U.S. history and the biggest ever for a technology company.
"This looks to be disappointment in the price action in Facebook after the IPO," said Todd Salamone, director of research at Schaeffer's Investment Research, according to the Wall Street Journal.
Meanwhile, the SF Gate wrote, "Facebook sold 421.2 million shares at $38 each to raise $16 billion. That values the Menlo Park, California-based company at $104.2 billion, or 107 times trailing 12-month earnings, more than every S&P 500 member except Amazon.com Inc. and Equity Residential."
Local, Indiana investors were mixed on whether or not buying Facebook stock is a good idea.