Today Facebook officially kicked-off its’ long-awaited IPO and raised nearly 18 billion in the process. However investors were skeptical about its’ longterm profit-making abilities, and sent the shares for a wild rollercoaster ride, eventually paring its’ gains. Does social media have the power to generate and sustain real profits in the future, or is this just another fad?
Update:
Facebook Stock Price Down. Facebook IPO Tbecame a true failure. Now there are talks of insider selling. Was the business model ever sustainable? If someone makes me pay for facebook I’m leaving because I never liked it much anyway. Mark better come up with another quick idea- fast. Facebook’s stock price is currently at 20.00…
For additional reading:
Facebook, Inc. (NASDAQ:FB): Insiderslab.com found company Independent Director, Reed Hastings, purchased 47,846 shares on August 8, at stock price US$21.03 for about US$1.01 million. Disclose date: August 9. On August 15, the Office of Fair Trading in the United Kingdom announced Facebook, Inc.’s (NASDAQ:FB) acquisition of Instagram for US$1 billion has been approved. At the close of the trading day, shares of Facebook rebounded US$0.82 (or 4.02%) to US$21.20 on high volume of 47.62 million shares, compared to its average volume of 29.58 million shares. In the past 52 weeks, Facebook share prices have been bracketed by a low of US$19.82 and a high of US$45.00, and are now at US$21.20 (7.0% above that low price).
