patrick.net

permanent_marker says

open at 38. close at 38.25 !

Sounds like they priced the IPO shares correctly.

Still, I think Facebook stock is probably going to crash. It seems way overvalued.

The PA RE listers are still waiting. They have 6 months to go until the worker bees at FB are allowed to sell their RSA's. That's common knowledge.

Seeing as how the employees didn't have to pay for the RSA's, it is free money for them no matter what the price is. Granted, I think that they have to pay income tax on the shares that vested today, at today's price, so it would be a bummer for them if it was worth a lot less in 6 months. Still, they aren't exactly in a position to LOSE money any way you slice it (they can always deduct the loss on their taxes).

Dan8267 says

Sounds like they priced the IPO shares correctly.

Wrong. The underwriters step in and buy the shares at close.

For facebook employees, it is not bad.
There are lots other similar facebook companies in BA, they may never go public.

We know it is a con game for these types of companies now.

Edit:
Underwriters bought $16 billion dollars.
It will sink on Monday.

source: http://www.telegraph.co.uk/technology/facebook/9276699/Facebook-IPO-fight-back-begins-share-price-implausible-says-analyst.html

Anyone who buys an IPO like facebook is a sucker.
PE is 100, no dividend, negative ad growth last quarter, thousands of competitors, easy entry for a competitor, etc.
Anyone who thinks having millions of non-paying "customers" makes profit should ask Bill Gates, he paid $400 million for hotmail.
Facebook didn't need that capital to operate their business. They didn't need to "raise cash" they wanted to fleece the suckers who were pumped with the free publicity on cnbc, even from Obama bleating about this wonderful American innovation.
Since Obama is also a perfect contra-indicator, it's a fools bet to think he knows what is innovation and what is not.
Like Obama said that his daughters convinced him to change his opinion for the second time about gay marriage, his daughters must have convinced him that facebook was innovative, so he mentioned it often in his speeches.
My broke friend in Japan who sees the shitty economy up close is not getting that much economic traction from the "high speed rail and high speed internet" they have over there.
Facebook could have continued their business without a stock offering, they have no huge capital needs and their product such as it is doesn't require a factory, raw materials, etc.
The IPO was not raising capital to grow the business. The IPO was intended to make a few people rich from the suckers.
The combined brainpower of thousands of investors is greater than that at Morgan, and those people are gonna pull the plug on facebook this week.

http://news.yahoo.com/facebooks-mark-zuckerberg-marries-sweetheart-012516359--finance.html

Zuckerberg needed money for his wedding was the reason for the IPO.

He must have a Chinese girlfriend.

The wedding needs to spend at least $2 billion.

xenogear3 says

Underwriters bought $16 billion dollars.

Yeah and with glass steagall gone, its probably with your money on deposit. Those oligarchs need your money, whether you want them to have it note. The game is rigged, folks.

Now we have proof that Farcebook IS a stupid idiot:

http://sickfacebook.com/facebook-stupid/

I've never understood how this thing was ever considered a legitimate market product to begin with, so no wonder why the IPO fizzled. Real critics & analysts know this. Its nothing more than a surveilance and marketing gimmick perpetrated on those foolish enough to use it...

What a useless pile of shit indeed. The 'hook' of this "product" is for narcissists that need a audience - and there is no shortage of these kinds of people in this media-driven age...

What an insult to real companies that produce actual things of use and value...