Business & Tech
SPEAK OUT: Facebook IPO; Share Your Thoughts
The much-hyped debut was less than overwhelming.
Updated May 19
THE LATEST: Facebook stock closed less than 50 cents above its opening price.
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And now, one of the hottest Initial Public Offerings of recent years on Wall Street actually takes place.
Facebook, the social utility with hundreds of millions of regular users, begins trading Friday (ticker symbol: FB) at 11 a.m., with individuals and businesses capable of becoming part-owners by purchasing shares.
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The opening price is set at $38, and demand is expected to be strong. And on Thursday, seems someone did some online crowdsourcing to gain additional insight.
-- Do you plan to purchase Facebook stock? Tell us in the comments below.
According to about 1,400 predictions, the price is expected to close at $54, for a valuation of $135 billion. By comparison, search engine giant Google has a market cap of $203.1 billion, and Apple Computers, maker of iPhone and iPad devices, is at a whopping $495.7 billion.
So do you think day-traders can get rich? Or do you think the company has passed its peak and gotten too big, with too many bells and whistles? Tell us in the comments below.
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