Timing is all – heading for the exit

I recently posted about Facebook and its Nasdaq launch in May. In the first five minutes, 100 million shares were traded and this initial frantic demand drove the shares well above their offer price to $42. However, the price fell back to end the first day of trading at $38.23. As I wrote at the time, many analysts doubted whether Facebook was worth its initial valuation.  For example, Sam Hamadeh, co-founder of PrivCo, commented that “After the first couple of ...