Update: The Wall Street Journal is reporting that Facebook has finalized its stock price at $38 per share.
There won't be any more surprises (we think) with Facebook's IPO. In a week that saw Facebook raise the number of shares it was selling by 25 percent (some 85 million more shares) and raise its price range, a source told CNBC that the current $34-$38 range for shares will be its final price range.
"Under the U.S. Securities and Exchange Commission's rules, Facebook can still price up to 20 percent above that range with $45 representing an absolute maximum," writes CNBC, though their source says that won't happen when the company prices its IPO this evening. Meanwhile, Facebook founder Mark Zuckerberg can be seen smiling like the cat that ate every canary in the world on the latest cover of Bloomberg BusinessWeek which touts his IPO as "The $96 Billion Hack."
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to email@example.com.