Disaster Averted: Facebook (FB) Not the Worst IPO Ever; Burger King (BKW) Still Sizzles
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Facebook (Nasdaq: FB) has had a tough time since its IPO on May 17th, becoming the wors....oh, wait, no it hasn't.
Looking at Facebook stock today, shares seem bounds different than the Facebook stock of yesteryear (read: last month). Following a botched IPO, shares promptly fell as much as 32 percent to a low of $25.87 on June 5th. But over the last two weeks, the social media giant's shares have rallied 22 percent as sentiment surrounding its monetization efforts has improved and the 'book has released new products.
Facebook's first day of trading was marred by lackluster execution due to software glitches at the Nasdaq (Nasdaq: NDAQ), for which the exchange has since apologized and offered reimbursement.
But is it a buying opportunity? Possibly. Next week is when the quiet period ends and underwriters can begin releasing their first public reports on the company. Shares are also slated to join the Russell 1000 Index very soon. Research firm Macquarie said the addition will prompt the purchase of 11.7 million shares.
On Thursday, Facebook shares are up 1.6 percent to $32.10.
In slightly unrelated news, shares of the re-IPO Burger King Worldwide (NYSE: BKW) are 6.5 percent higher this morning and up 10.3 percent since Wednesday's open at $14.50.
Looking at Facebook stock today, shares seem bounds different than the Facebook stock of yesteryear (read: last month). Following a botched IPO, shares promptly fell as much as 32 percent to a low of $25.87 on June 5th. But over the last two weeks, the social media giant's shares have rallied 22 percent as sentiment surrounding its monetization efforts has improved and the 'book has released new products.
Facebook's first day of trading was marred by lackluster execution due to software glitches at the Nasdaq (Nasdaq: NDAQ), for which the exchange has since apologized and offered reimbursement.
But is it a buying opportunity? Possibly. Next week is when the quiet period ends and underwriters can begin releasing their first public reports on the company. Shares are also slated to join the Russell 1000 Index very soon. Research firm Macquarie said the addition will prompt the purchase of 11.7 million shares.
On Thursday, Facebook shares are up 1.6 percent to $32.10.
In slightly unrelated news, shares of the re-IPO Burger King Worldwide (NYSE: BKW) are 6.5 percent higher this morning and up 10.3 percent since Wednesday's open at $14.50.
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