Facebook goes public…

And the world yawns. Good evening all, this is the Angry Systems Administrator. Normally The Angry Webmaster would be writing about a certain president being born in Kenya, at least until 2007, but today I hit him with a taser I’ve been playing with and thought I would write about Facebook’s new IPO.

Today at 11am Eastern Time, Facebook opened on the Nasdaq exchange at $38 a share. It closed today at $38.23 a share for a total gain of….23 cents. Now compare that with Google. The opened at around $80 a share, (give or take), and closed over $100 a share. Today they are around $600 a share. This is similar to a number of other big name internet companies, although a number of them have since gone *SPLAT*.

Facebook apparently never broke $45/share today either. After all the hype, the screams and yelling, I have no doubt a lot of people though Facebook would easily break $100/share today. Now in the real world, Facebook appears to have actually valued themselves accurately. They said they were worth about $38/share and that’s what it went for.

Now, how will Facebook perform in the future? I have no idea. I’m not sure anyone does. I haven’t been able to figure out how Facebook intends to monetize their site. They do run ads, but I block them. Google also runs ads, but they figured out early one how to make mass quantities of cash from Search.

Now I have invested in a few Internet companies. I bought Amazon at $14/share and sold it at $122/share. The problem with that is I’m kicking myself. I sold to soon. They hadn’t announced the Kindle at that point and that little item is really making the piles of cash.

These days I tend to go for stocks that provide a dividend. A lot of these companies don’t do any sort of dividend. In fact Apple, which recently issued it’s first dividend had to e dragged kicking and screaming to the table.

I may buy some Facebook, but probably not for a few weeks or a month or two. I want to see how they are going to perform. I would rather not have to do a loss this year, even if it does help with the taxes. It is going to be interesting to see what happens next. I’m sure the politicians are salivating over all that money want want to take it for themselves, but that’s a commentary for another day by a slightly less balanced blogger. 😉

Thank you and have a good day

~The Angry Systems Administrator~

(2 votes, average: 1.00 out of 5)

Loading...