The relatively poor showing of Facebook’s initial public offering of its shares on the NASDAQ exchange shows that, perhaps, finally, the hype around the social networking site may finally be abating.
As I post this, Facebook shares have closed around $31 after their third day of trading, down from their opening price of $38. And they didn’t do much better on their first two days, having closed on Day 1 at around where they opened.
Does this mean the business world and average folk may finally have acquired a sense of proportion about services like Facebook, or for that matter, companies such as Apple?
Let’s hope so. Continue reading