October 22, 2014

Facebook Makes Its NASDAQ Debut. Financial Bin Has a Recap for $FB.

As I post this, I am in my hotel room in Tarrytown, NY. The wife and I just returned from our visit of the Kykuit: The Rockefeller Estate. I encourage all of you to check it out and see real wealth. It sure is an amazing motivator. We’re in town for my brother’s graduation from Fordham University tomorrow. Congrats to all graduates. I sure do wish you the best in this tough market.

Now, if you can’t get a job, you could always start a multi-billion dollar web company and turn it into a public company. Here’s a quick recap of Facebook’s debut –

Google Finance: $FB Closes at $38.27; Up Just 0.61%

CNBC: SEC to Review Nasdaq Trading Issues Related to Facebook IPO

CNBC: Big Volume, But Little to Show For It | Live Blog

CNET: Facebook IPO: After the hype, a ho-hummer

TIME (NewsFeed): Did the Facebook IPO Really Make Bono the Richest Rocker in the World?

Reuters: Scramble for Facebook stock ends in “Face-flop”

Expert Commentary

Aaron Klein, Riskalyze CEO: 

It’s a great day to celebrate in the technology industry. Another team builds something amazing that didn’t exist a decade ago and today, they reap the rewards.

As for the price, it looks to me like Mark stuck the landing perfectly. A big pop means you left money on the table; a big drop means your valuation wasn’t there. The markets said Facebook nailed it.

Make sure to follow the Financial Bin on Twitter @FinancialBin and on StockTwits @FinancialBin.

Image(s): FreeDigitalPhotos.net