Weekly Wrap: What happened to Facebook’s stock?
Marketplace’s New York bureau chief Heidi Moore and CNBC’s John Carney discuss the first day of trading for the highly anticipated Facebook stock.
Heidi Moore: It was a tremendous disappointment. They should have done much better and the company was really haughty towards investors. I think karmically, that came back to bite it.
John Carney: I don’t think it was as bad as Heidi says. I think that we’ve gotten used to these sort of explosive first days for some of these hot IPOs — I don’t think that’s healthy for the market. You shouldn’t buy into an IPO hoping to double your money; it’s not the lottery. A 10 percent or 7 to 15 percent raise is pretty normal.
For more analysis, listen to the full audio above.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
