Facebook’s IPO continues to make news … and not in a good way. What started at $38 a share has now dropped (as of today) to $26.41–that’s a 30 percent drop. It’s rare for a company as popular and as hyped as Facebook to experience such a significant decline during what should have been a honeymoon period with investors. The average first-day “pop” for a technology company is 32 percent, according to Businessweek.
Fingers are pointing with some blaming the bankers for mispricing the stock; others blaming Nasdaq and even GM.
On June 13 on FORA.tv, the Paley Center for Media presents the Facebook IPO Effect, a conversation between venture capitalist Alan Patricof, who had his hand in the creation of Apple, AOL and the Huffington Post, and journalist David Kirkpatrick, who wrote the best-selling book The Facebook Effect: The Inside Story of the Company That Is Connecting the World.
Given the fast-moving developments of this story, you won’t want to miss this free program.