Shrewd investors play a waiting game with Facebook
After all the hype, one of the biggest initial public offerings in stock market history may turn out to have been something of a let-down, writes Tina-Marie O'Neill.
After the hype, the major Nasdaq hiccup and the tsunami-scale investor hissy fits, one of the biggest initial public offerings in stock market history may turn out to have been something of a let-down, particularly if shares in Facebook continue to dawdle in the low $30s.
The late-arriving investors, who simultaneously drove the hype and bought into it, have fared worst as the share price fell from an opening $42 to below the issue price of $38.
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