Now that Facebook's finished its first day on the market, it's time to figure out what it all means. It ended the day at a price of $38.23 per share, almost exactly where it started the morning at $38 per share, does that mean today basically didn't happen? No. As you can see over at our live blog, it was an eventful day, which saw the stock peak at $45 per share, amid tech glitches and a resounding meh from the Internet. What does this mean for Facebook? America? The Internet? Me? You? Let's find out.
Tell me more about this $38 stock price.
- This was unexpected, as The Next Web's Alex Wilhelm points out, stocks should not trade flat on their first days.
- But it actually could have been worse, as The Guardian's Heidi Moore explains, it didn't go below $38 because the underwriters bought up shares during the debut, to keep the price up.
- We know, that sounds shady. The Atlantic's Alexis Madrigal agrees.
So, Facebook's debut was a total failure then?
- Well, a pop, like what happened to Groupon, might have been worse, notes AllThingsD's John Paczkowski, who thinks this means the stock got priced just right.
- Fortune's Dan Primack agrees, explaining that this is not a catastrophe. He even calls the price perfect.
- Also, some are attributing the drop to technical glitches, rather than market expectation, explains Reuters's Alexei Oreskovic.
- And the company did set one record. The 500 million shares traded set a record, says The Next Web's Matthew Panzarino.