As of this morning facebook has gone public
As of right now it’s trading at $40.07 up $2.07 from opening price.
There will be semi live updates to this post as the day goes on.
12:02 EST trading at 39.42
Will do final update at closing bell and a full wrap up of facebook’s first day on wall street
Zynga who made their name off of Facebook and went public previously at an ipo of $10.00 per share is watching its stock plummet with Facebook going public now zynga is trading at $7.41 per share as of 1:41 est.
This is not good for zynga as Facebook is showing a lessened need for them.
Facebook went flat briefly back at the $38.00 opening price. A lot of people were expecting it to close the day at over $60.00 and that will not happen. Thankfully they opened on a Friday so now the heads in charge have the weekend to figure out what went wrong and how to fix it because this is not looking like the large scale success it was being touted to be.
Closed pretty much flat today for Facebook. Now we will hear a lot of what went wrong and how could they have done better. I have been hearing from people they won’t buy any stock in Facebook because they don’t make anything you can physically touch, they are just a service and a free one at that. I also saw on the rumor mill that people are chattering about Facebook becoming a pay for service and that just isn’t true and won’t happen if they did it would be the death for them because nobody will pay for a service they had been getting for years free an will jump ship to google+
I think we need a copy of the hitchhikers guide to they galaxy for the
hoodie guy because on the front in big bold letters it says “don’t panic” and that’s what they need to do now over the weekend and the coming weeks when they change their business model.