Friday, May 18, 2012

At least we have our 'friends'

So markets are getting slammed as the European situation looks increasingly precarious.  Hey, but at least we have our friends (or let me say Facebook friends).  Facebook prices at U$38/share and will trade Friday.  That is the very high end of its pricing range.  This make it the biggest internet IPO ever and the second largest IPO in US history.

I don't know how many of you log onto cnbc.com but check it out today.  You'll be able to tell that everyone is watching Friday's Facebook debut.  It's the talk of the markets (that and Europe).  How Facebook fares is hard to call.  Incidentally my job keeps me from announcing my view on the stock publicly so lucky swerve for me.  However, I do think an old stock market joke works well here.  Facebook is like a strapless bra.  Half the people wonder what's holding it up while the other half are waiting for it to drop so that they can seize the opportunity with both hands.   Hope you 'like' my dorky finance joke.  Gotta wrap it up here - Catch you on Facebook!

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