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Facebook goes public (live blog)

Blow-by-blow coverage of Facebook's initial public offering.

  • charles.cooper 5/18/2012 2:46:34 PM
    Facebook opening trade in any second and CNBC dutifully says: "You can cut the tension with a knife." Oh boy..
  • David combs 5/18/2012 2:46:59 PM
    @Roger yes it's true there are lovers and haters of time line. 1 thing's for sure it's not going to go anywhere. Sigh.
  • lawrence.dignan 5/18/2012 2:47:11 PM
    A lot of buyer's remorse in 180 days
  • Paul Sloan 5/18/2012 2:47:23 PM
    Good reminder of who has already won -- the VC firms. Read Dan Primack's post: finance.fortune.cnn.com
  • Paul Sloan 5/18/2012 2:47:47 PM
    @larry and yet, who will have the nerve to short?
  • jim.kerstetter 5/18/2012 2:48:32 PM
    I thought the Timeline took some getting used to. If anything it drives a point: Whatever you post on Facebook stays on Facebook. But from a design standpoint, I like it.
  • jim.kerstetter 5/18/2012 2:49:47 PM
    The shorts will be out when the lockup ends for insiders.
  • Roger Cheng 5/18/2012 2:50:47 PM
    By the way, here's Bloomberg's list of billionaires. Zuckerberg is up at No. 29. Not bad for a kid who just celebrated his 28th birthday.
  • charles.cooper 5/18/2012 2:51:17 PM
    Facebook's first trade - where is it? Supposed to be 10:45 and now it's 10:50 AM.
  • Roger Cheng 5/18/2012 2:51:29 PM
    Guess who's No. 30: Google's Larry Page.
  • Roger Cheng 5/18/2012 2:52:39 PM
    And of course his Google cohort Sergey Brin at No. 31.
  • lawrence.dignan 5/18/2012 2:54:43 PM
    Bloomberg has first trade at 44-45
  • lawrence.dignan 5/18/2012 2:54:58 PM
    But seems unconfirmed
  • jim.kerstetter 5/18/2012 2:55:13 PM
    Is that about where we expected?
  • charles.cooper 5/18/2012 2:55:24 PM
    Bloomberg is reporting that circuit breakers "may halt Facebook after $16 billion IPO." For some reason, I have this mental image from `Trading Places."
  • Roger Cheng 5/18/2012 2:55:55 PM
    Sell, Mortimer, sell!
  • lawrence.dignan 5/18/2012 2:56:03 PM
    indicated at $45 with about 46 million shares paired
  • josiah gillan 5/18/2012 2:56:10 PM
    I really want to buy fb stock. But i'm just a poor guy
  • Roger Cheng 5/18/2012 2:56:25 PM
    @josiah gillan You're in a live blog with a bunch of journalists. We feel your pain.
  • lawrence.dignan 5/18/2012 2:56:40 PM
    Bloomberg: Knight Trading, a huge market maker, says most orders ever
  • jim.kerstetter 5/18/2012 2:57:05 PM
    @charlie.cooper: We all the know the volatility of orange futures.
  • charles.cooper 5/18/2012 2:57:32 PM
    @jim.kerstetter Where's David Mamet when we really need him?
  • jim.kerstetter 5/18/2012 2:57:47 PM
    It seems CNBC is falling behind Bloomberg in breathless share price reporting.
  • Sarah Tew 5/18/2012 2:57:53 PM
  • lawrence.dignan 5/18/2012 2:57:59 PM
    Interesting point: Google tracks what you do. Facebook tracks what you say you like.
  • Anon 5/18/2012 2:58:09 PM
    Where is Beeks with the FCOB report?
  • lawrence.dignan 5/18/2012 2:58:19 PM
    FB indicated at about $43 now
  • jim.kerstetter 5/18/2012 2:58:30 PM
    @anon. Nice one.
  • lawrence.dignan 5/18/2012 2:59:29 PM
    In the stuff that won't happen dept: Can you imagine if this thing breaks?
  • jim.kerstetter 5/18/2012 2:59:59 PM
    Interesting tidbit from the talking heads: Bono will make more money from Facebook than in all of his years as a rock god.
  • lawrence.dignan 5/18/2012 3:00:23 PM
    Nasdaq needs another 5 minutes for opening quote
  • lawrence.dignan 5/18/2012 3:00:59 PM
    FB now indicated at $42
  • jim.kerstetter 5/18/2012 3:01:47 PM
    That's down a bit from a few minutes ago.
  • charles.cooper 5/18/2012 3:01:54 PM
    CNBC’s Carl Quintanilla says that the “atmosphere has faded” at Facebook since people are now going home from last night’s hackathon. Dude, you’re sitting in the Facebook parking lot with a bunch of other journos.
  • charles.cooper 5/18/2012 3:03:49 PM
    NASDAQ reporting that Facebook may start trading at 11:05 A.M.
  • Alex T 5/18/2012 3:03:49 PM
    @lawrence.dignan Does that mean a limit purchase at 39 won't go through?
  • lawrence.dignan 5/18/2012 3:04:37 PM
    @Alex, that limit won't hit at open. It's going to bounce though. They are only doing limits right now.
  • charles.cooper 5/18/2012 3:05:30 PM
    Nobody's talking about the guy right now but Zuck and his minions owe a HUGE debt of gratitude to one Tim Berners-Lee.
  • Paul Sloan 5/18/2012 3:05:42 PM
    @coop. easy, dude, it's a nice parking lot
  • charles.cooper 5/18/2012 3:06:15 PM
    @ Paul Sloan: I know. We were just there :)
  • lawrence.dignan 5/18/2012 3:06:30 PM
    Pivotal Research puts Facebook's enterprise value at $75 billion to $82 billion. Let's hear it for the retail investor that's about to pay up.
  • Roger Cheng 5/18/2012 3:06:51 PM
    Interesting. This website is calculating a guess on Facebook's closing price based on responses made by Twitter. The current guess is at $54.
  • lawrence.dignan 5/18/2012 3:07:25 PM
    $54 looks highly unlikely right now
  • jim.kerstetter 5/18/2012 3:08:27 PM
    So if it starts at $42, seems to me like it would mean it was priced properly.
  • lawrence.dignan 5/18/2012 3:08:29 PM
    Oh price this damn thing already!
  • lawrence.dignan 5/18/2012 3:08:53 PM
    @Jim it was priced very well. Great for FB.
  • Anmol 5/18/2012 3:09:43 PM
    Yes 54$ is way too high
  • lawrence.dignan 5/18/2012 3:09:55 PM
    Another thing to keep in mind. There are a lot of shares being floated here so you're not going to get a jaw dropping type of run up. Those shares floated will be doubled in 180 days.
  • jim.kerstetter 5/18/2012 3:10:43 PM
    CNBC is showing a guy in Times Square talking on his phone and carrying a hockey stick. Yes, price it already.
  • charles.cooper 5/18/2012 3:10:54 PM
    Still waiting for Gadot, um, Facebook open. CNBC still saying it will start trading "any minute." This is starting to remind me of the Saturday Night Live catch phrase, "Generalissimo Francisco Franco is still dead."
  • Roger Cheng 5/18/2012 3:11:13 PM
    @lawrence.dignan Actually, a lot of those shares (not all) will get unlocked in 90 days, which is unusually quick.
  • Alex T 5/18/2012 3:11:25 PM
    @lawrence.dignan What do you think the high will be today?
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