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Facebook IPO Falling Unexpectedly Flat

Facebook’s first Initial Public Offering (IPO) launched at 10am this morning, and, well… as fallen somewhat flat.

The initial stock price offered was $38, and as off 12:30, has only climbed to about $41 (it’s been as high as $43, and as low again as $39 in the last hour).

Of course, we still have several more hours of trading left to go today, so this could all change.

There are several theories out there already about why the IPO fell flat, including the half-hour delay in going live due to high volume of shares. According to Business Insider, NASDAQ wasn’t letting the big bank trading desks know that their purchases had gone through.

But ultimately, it may not matter, at least not to Mark Zuckerberg, who is on track today to becoming the 29th richest person in the world.

According to the San Francisco Chronicle:

Facebook, the world’s most popular social networking company, sold 421.2 million shares for $38 each. At that price, the 503.6 million shares and options Zuckerberg owns are valued at $19.1 billion, making him wealthier than Google Inc. co- founders Sergey Brin and Larry Page, according to the Bloomberg Billionaires Index.

Interestingly enough, Warren Buffet yesterday advised against buying Facebook stock during the IPO, according to CNN.

“We never buy into an offering” … “The idea that something coming out…that’s being offered with significant commissions, all kinds of publicity, the seller electing the time to sell, is going to be the best single investment that I can make in the world among thousands of choices is mathematically impossible,” said Buffett.

If you’re as much of a geek as I am, you can keep an eye on Facebook’s stock price (listed as FB, of course) here.

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