Posted By RichC on May 18, 2012
Facebook made it stock market debut today with a $5 move from the $38 IPO price to above $42/share and then kind of drifted back to close the day at $38.23. There was plenty of interest. Lots of hype and even a NASDAQ snag to prevent an on time opening this morning. For employees of FB … today made many paper millionaires … and most those who sold shares are probably the real deal. The WSJ commented, “it was a tepid debut for one of the largest and most closely watched initial public offerings.”
There have only been six other initial public offerings that raised more than $5 billion since 1995 … quite impressive.