Facebook IPO: Five things about its failure
Shares overpriced and overhyped
Experts felt that the Facebook stock was overpriced at USD 38 apiece and also cautioned investors to adopt a ‘wait and watch’ policy before investing in the firm. Kenneth Froewiss, an ex-Professor of NYU Stern School of Business Finance even compared it to playing a lottery. He said that adding Facebook to a portfolio early on is risky for experienced pros and investment amateurs alike.
Facebook`s market debut did not live up to all the hype as its shares closed the first trading day on a flat note. After rising to an intra-day peak of USD 45 apiece, the shares ended at USD 38.23, up only by 0.61 percent from the USD 38 offer price.
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