On Friday, Facebook went public. It’s debut on the stock markets was kind of craptastic. Public trading didn’t get underway until about 11:30 a.m. ET, half an hour after it was supposed to. When trading did start, shares were only up between 5 and 10 per cent and by noon were essentially back down to the IPO price of $38. The day for Facebook ended at $38.23.
#fail…. Oh wait. Wrong social networking site.
Even with that stumble, Facebook is still worth something north of $100 billion. Now the real challenge will be to keep the stock value there.
Then the next day, founder Mark Zuckerberg changed his relationship status to married. He got hitched to long time girlfriend Priscilla Chan in a surprise ceremony yesterday. At least Zuckerberg traded in his trademark hoodie for a suit for this event.
The next few weeks should be interesting to see.