It’s been a crazy few days for Facebook and the S-1 IPO (initial public offering) filing that everyone seems to think may drop on Wednesday. The news is fast and furious since the trading stopped on the secondary markets, and here’s what’s new.
FACEBOOK TICKER SYMBOL: FB
The Facebook stock symbol (we guessed wrong!) looks to be FB. That ticker symbol matches the internal corporate email addresses at Facebook itself (FB.com), so that’s convenient. The great twitter platform StockTwits (shout out to Howard Lindzon, Soren Macbeth, and Phil Pearlman!) with its network of traders, investors, and street gurus has already switched their Facebook stream to $FB.
FACEBOOK TO LIST ON NYSE
The battle between the New York Stock Exchange – NYSE Euronext (NYX) and the Nasdaq (NDAQ) to list Facebook stock at the IPO has apparently been furious… A recent tweet by NYSE Euronext makes me think they landed it! (Both exchanges apparently reserved the ticker ‘FB’ during the courting process…) (StockTwits already lists it as… NYSE: FB.)
LEAD UNDERWRITER MORGAN STANLEY
The lead underwriter for the Facebook IPO looks to be one of the last two big investment banks on Wall Street — Morgan Stanley (ticker symbol: MS). Why? Perhaps Goldman Sachs (GS), with their institutional and high-net worth investor (HNW) shenanigans last June still keeps them in the category of “great vampire squid wrapped around the face of humanity…” (the now-classic Matt Taibbi description from his now-legendary Rolling Stone article). Actually what looks like a quick-shove-down-the-throats private offering to Goldman’s own HNW clients now looks like a double. ($50B valuation at that time…) Bah-boom!
From the TWITTER VERSE:
Here’s some SHOULDIBUYFACEBOOKIPO.com (SIBFI) reaction to the TwitterVerse: (disclaimer — all these tweets have been retweeted by our SIBFI twitter account @buyfacebookipo, but our — we know UNSOLICITED! — reactions are only posted here!):
@NYSE_Euronext: 5 years in a row! #NYSE led the market for #IPOs & total proceeds raised in US. Watch @cutlerscott wrap-up #video: bit.ly/y91Nb8
~Should I Buy Facebook IPO (SIBFI): Seems like they got it (NYSE Euronext). So Nasdaq was maybe the obvious choice for tech, but Zuckerberg and crew want to go the unexpected way…
@LDrogen: I hope $FB screws $MS out of every single last dollar of IB fees, I still don’t understand why they aren’t doing an auction
~Should I Buy Facebook IPO (SIBFI): Maybe Facebook just won’t do an auction because Google did an auction?
@alexheimann: $FB ads are worth less than Google CPC and Google CPS are slowing down , so how will $FB justify that valuation
@ericjackson: Buying $FB in 2012 at $100b is like buying $GOOG in 2005 at $650/share
@JFinDallas: Blackstone IPO clearly marked top of credit bubble/03-07 bull,will $FBOOK $IPO mark top for Web2.0/market $BX $SPY http://t.co/bT5ktjh5 $FB
~Should I Buy Facebook IPO (SIBFI): Valuations here make everybody nervous… Bubble nervous, though? Probably. Perhaps this is why Facebook (FB) might cave and lower their initial offering price.
@matterhornbob: $Facebook: I have seen a number of studies that show that people are starting to spend more time on Twitter than $FBook = BIG DEAL
~Should I Buy Facebook IPO (SIBFI): Based on the fact that most Facebook status updates are probably less than 140 characters like Twitter, it makes sense. SharesPost secondary market has Twitter shares valued at about $9.8B. Maybe that’s what Facebook should immediately buy with their $10B IPO! (Or Netflix!)
@rupertmurdoch: Facebook a brilliant achievement, but $75-100bn? Would make Apple look really cheap.
~Should I Buy Facebook IPO (SIBFI): Yeah Apple looks cheaper every day with its cash, crazy-busy stores, must-have gadgets, and new initiatives like texttbooks (!!), and more. I guess for $100B, at this point I’d rather own 1/4 of Apple, than all of Facebook.
@Buzz81: I deleted my $FBOOK account almost a year ago, Damn it felt zoo good, I’ll short those SOB again any day.
~Should I Buy Facebook IPO (SIBFI): I know many people who don’t use FB anymore as well… Is Facebook too big and too important to roll over and just be a passing fad? Is the IPO the signal that insiders are cashing out and some employees are chomping at the bit to leave, or is it just the 500 shareholders rule? Hmmmmm.
@danprimack: When FB does file S-1, it will be interesting to see how much cash Zuck has taken out so far.
~Should I Buy Facebook IPO (SIBFI): This S-1 is one of the most highly anticipated documents in a long, long while. Hopefully everyone reads it!
Thanks to all those retweeted HERE from the TwitterVerse! You are all prescient thinkers! Leave your comments below, and please sign up for our email updates in the right column! Follow us on twitter @buyfacebookIPO.
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