Facebook Nasdaq IPO opens tomorrow and so tonight they've decided on the price per share.
38 Dollars. I predicted 37 Dollars (not bad, eh), which will bring in 16 billion.
It is the biggest Internet IPO in history.
Bono will make about 176m Dollars on opening.
Remember they started with an indicative pricing range of 28-35 Dollars. On Wednesday they revised it up to 34 - 38 dollars. A typical play to show the market that the shares were so well demanded, they "had to" push up the price. And of course, the demand is clearly there.
At that price this is going to shoot on Day one 30%+ and you'll see some selling day one as people flip it for a short term profit.
My blog of May 5 said and right now, I'm standing over it 100%. Now that I know the price, convinces me further......so here's part of that blog again if it helps you (but you can read it in full on the right hand side):
Facebook IPO. Could the Share open at 37 Dollars and go to 67 Dollars?
This pricing is indicative of exactly what I was saying on May 5.
It's perfectly placed now to explode and whilst I suggested 67 Dollars as a high, I'm practically sure of it now and I might be low....Mad isn't it?
Get ready. Get set.
Circa 11am New York time with the bell ringing going on in Facebook's office (unusually) in Silicon Valley.