Facebook Drops to $39, Is This the End of IPO Hype?
It seems that all the hype in the world can't save Facebook (NASDAQ: FB) today.
I wrote about this and other concerns just hours ago, noting that hype can backfire or have no affect at all on an IPO. That seems to be the case for Facebook, which was priced at $38 last night, opened today at $42.05, and has now fallen back into the $39 range. At one point it even dropped down to $38.
Follow me @LouisBedigianBZ
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.