Market Overview

Facebook Drops to $39, Is This the End of IPO Hype?

Related FB
Instagram Shopping Just Got A Lot Easier
#PreMarket Primer: Friday, August 29: Japanese Economy Proves Resilient
Social Media, Groupthink and the Spiral of Silence (Fox Business)

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.

This is a far cry from the IPOs of LinkedIn (NASDAQ: LNKD), Groupon (NASDAQ: GRPN), and other companies whose initial public offerings received a ton of hype.

Follow me @LouisBedigianBZ

Posted-In: Facebook Groupon LinkedInNews IPOs Tech Best of Benzinga

 

Related Articles (GRPN + FB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters