Friday, May 18, 2012

Place your bets on the closing price of Facebook's IPO on Day One

It is May 18, 2012, also known as Facebook IPO day. The stock was listed for the first time on the NASDAQ stock market today, at the IPO price $38 per share. What it will close at is, of course, something to be learned in the future, but folks are "betting" on what that value will be on a new website just opened.

The website, Facebook IPO Closing Price, was created after a Twitter request by Angel investor Chris Sacca. Bacca asked for someone to build a website where people could predict how high (or low) Facebook's stock end up at on Day One.

Ironically, of course, as we noted, the request came not via Facebook, but via Twitter.

Sacca: Will someone please make I would love to see all the pundits place their bets.
Proud (programmer James Proud): @sacca Ok!
Proud: @sacca yo, so I went and created

As of 2:15 p.m. EDT, 2261 people have predicted at an average closing share price of $54, which would value Facebook at $135.7 million.

However, the Facebook IPO opening appears modest. The stock is trading at $40.15 at the time of this writing (about 2:15 p.m. EDT). It opened to the public at $42 a share, so that's not good performance for day one.

It's not clear what's holding back the stock, but it doesn't appear as though it is going to pop up to a high value. It's possible, though, that other pressures are weighing the stock down, including the European debt crisis.

Volume is extremely high, at 10.5 million shares traded at the time of this writing.

You still have time. If you want to place your "bet," head over to Facebook IPO Closing Price. All you need is a Twitter account to post your own estimate.

Update: Facebook finished the day at $38.27, far below the "betting" average at It is also down another 5 cents in after-hours trading.

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