The current plan is to turn loose 337.4 million shares at $28 to $35 each according to their recent filing. Those in the know said that Facebook was going for a $100B valuation. This would have placed their market cap at half of Google’s! They only have 10th of the sales revenue. It does seem inevitable that this IPO will wash back to fair value in time, the question is how long will the initial frenzy last and how many will enjoy the ride.
Thursday, May 3, 2012
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