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Facebook or FacebooHoo why did they not hit the IPO out of t

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Marco Giunta

Marco Giunta

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This week we disuss .....
 
Investors may have really wanted to like Facebook on its first day as a public company, but it appears many have changed their minds.
Shares of the social network giant closed at $38.23, just 0.6 percent above the initial public offering price — a price that represented 100 times historical earnings.
...Buying by Facebook’s army of bankers appears to have kept the stock from falling even further, and by mid-afternoon shares had climbed back to about $41.06.
...An investor in tech companies who declined to be identified said he believed some portion of the people who had bought stock in other social stocks, especially Zynga, were doing so as a proxy for Facebook.

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