So…Facebook’s IPO was on Friday…and it was one of the least exciting IPOs I’ve ever seen.
The hype leading up to it was off the charts. This was supposed to be one of the biggest IPOs in years. It opened pretty stinkin’ close to my prediction. And then slowly dropped back to the IPO price – $38.
I expected a big pop, but the fact that there really wasn’t much of one shows that the investment bankers did their job and priced the IPO well. A big pop would mean that they underpriced the stock and FB wouldn’t have received as much money as it should have.
Now, I betcha we see a big drop when the market opens tomorrow. I still think the stock is way overpriced.
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