Free-Falling Thursday: Facebook Faces Fatal Friday Follow-Through
By Phil Davis: What a week to do an IPO! Will Facebook (FB) save the markets tomorrow with a successful roll-out of the largest IPO of all time or will it be the straw that breaks the camel's back, with a disappointing open that sends the Nasdaq off a cliff along with its entire over-priced sector? Either way - this is going to be fun. We can argue the merits of Facebook's value (or lack thereof) all day long but, scam or not, it's very likely FB will set off a buying frenzy in the space and we finish the week off with a bang. If that doesn't happen - I will be very, very bearish but from what I'm hearing and the way they are extending the offer and raising the price - it's way oversubscribed. Also, we have to consider that people are cashing out 1-5% of their holdings to raiseComplete Story »
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