We expected it and it is here. Facebook went public today and is no more a closed company. The largest social network recorded their successful IPO. The website recorded over 500 million Share Trades the first day.
The IPO opened today with a huge fanfare and started off with a price of $38 and went on to record $42 and then fell back to $38.37 before it closed. Moreover, CNBC reports that this is the first IPO that saw over 500,000,000 share exchanges the first day of trading. Facebook initially set the pricing for the IPO yesterday for $38 per share and today, the pricing remained pretty much the same and there were not much change in the pricing even during the closing of the stock the first day.
We think Facebook has done a decent job the first day in the IPO offering and the company is expected to have higher stock price in the coming weeks. The IPO actually traded some 82 million shares in the first 30 seconds. Isn’t it something huge? Let’s see how the company changes from here.