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And the IPO fell flat
Facebook's much anticipated IPO fell flat today on its opening day. With a mere $0.23 jump in share price, it did not make the waves that were anticipated to flood Wall Street.
Industry analysts are speculating numerous causes as to why the IPO was less than eventful. We have some ideas of our own.
Buzz overkill. How long have we been hearing about this? This highly publicized IPO filing was talked about on so many different media outlets that even non-Wall Street followers were in the know about almost every hiccup that Zuck made in this process.
GM's bomb. Losing a major advertiser within the week of your opening day on the NASDAQ, can't help. This well-publicized development probably only added more doubt to potential investors.
NASDAQ stalled. Some (Kevin Pleines, equity market analyst with Birinyi Associates) say that the confusion created by the 30 minute delay didn't offer the stock any favors. NASDAQ offered the stock at 11:30am EST instead of the initial 11am scheduled time.
This list could potentially go on and on, but we want to hear from you. What factors do you think contributed to Facebook's anticlimactic? Do you think things are just slowly warming up? Or was this just a lot of hype?