With Mark Zuckerberg making the rounds in New York in advance of the May 18 Facebook IPO a source inside the Facebook camp has leaked that the IPO is already over-subscribed.
So Hoodie-Gate is over? Darn. What do we write about now? I know, we write about how we couldn’t get our hands on even half a share of the biggest IPO of all time and how our grandchildren will laugh at us when we sheepishly confess that we missed out on the greatest stock investment ever.
By my calculations, half a share of Facebook stock purchased at IPO will be worth $654 Bazillion Dollars by the time I’m 85. But, factoring in the rate of inflation I will only be able to trade the stock for a 20 year old iPhone 67s and a subscription to “Loser’s Journal – Stories from people who missed out on the Facebook IPO.”
But hey, at least I made it to 85.
From CNBC via Reuters -
Facebook’s record initial public offering is already oversubscribed, a source familiar with the share listing said, days after the world’s largest social network embarked on a cross-country roadshow to drum up investor enthusiasm.
Despite concerns about slowing growth, a lofty valuation and signs the company is having trouble ramping up revenue from mobile advertising, institutional investors have so far indicated demand for more shares than Facebook has available, the source told Reuters.