May 18 - Facebook shares open 13 percent higher at $42.05, after the social network site raised as much as $18.4 billion in one of the biggest IPOs in U.S. history.
They came they saw they waited after it delay opening its initial. FaceBook climbing then -- actually offering price of 38 dollars a share and FaceBook now officially public it's been trading on the Nat for the last 32 minutes. Adding a little compartment and right now it is -- four and a half percent. Shares were set to begin trading at 11 AM New York time but due to volume in NASDAQ didn't get it open until last half hour later. Why was open volume -- stock trading 100 million shares in the first five minutes. Stop opening at 42 dollars five Mets just slightly more than four dollars above the offering price of not. On the table from Mark Zuckerberg and other investors. Check out Mark Zuckerberg space but -- you know lot happening in the last 24 hours. Doctor updating his -- to do list and company on NASDAQ. It's funny you're all will be mixing. Elliott is at 38 dollars a share FaceBook which trade at more than -- this. -- historical earnings compared up fourteen times for apple and nineteen times for bill. Well as high flying -- interface look at the moment but -- -- tells us the company itself this game changer and we're investing again. I think this is clearly a special company paid a company can -- test significant growth and we expect this company I to grow very very quickly. Is maybe a great investment. But not every want to cheerleader for phase of today's investors worry that company is not yet figured out a way to make money off the growing number of. Users. FaceBook. -- good customer base -- Good revenues check could profitability check they've got good market position check. It's really did valuation. Unchecked that's the big issue here at least to me it's not that the company. It's not a good company they've got good revenues they've got profitability to avoid. They have a good opinion of their value no question yeah yeah. You're thinking up shorting Facebook's stock today you may want to think again traders told Reuters the doctor is going to be hard and our hope for a few days and the best hedge fund managers will be able to find lenders. Also the high number of retail investors will make shorting a stock option what hedge fund manager even went as far as to say he has no interest. In shorting a quote cultural phenomenon. It's on his book -- Friday but let's take a quick look at some stocks moving as well he shares of footlocker are moving higher after beating first quarter estimates. All our doubts today the major indices on track to close their worst week of the year -- Europe. Battery investors' sentiment and a look at what's happening with me. Social media stocks today after the -- the big news you can see losses across the board. Alfred trading news I've got up there is this writers.