The Facebook story has opened a historic chapter. The social media firm became a public company.
The public can now buy or sell Facebook shares.
Facebook trades under the ticker symbol $FB.
Its debut, called an Initial Public Offering (“IPO”), did not go smoothly.
A significant technical delay frustrated traders trying to see their buy or sell orders.
The Securities and Exchange Commission will look into the technical glitch, according to reports.
Whatever was wrong got fixed. Trading of Facebook stock finally started.
Shares spiked above $42, before ending the day very close to the opening price of $38.
At last look, the number of shares traded in its public debut exceeded half-a-billion. That’s huge volume.
The business coverage of the event was extraordinary, too. Wall-to-wall, as we say in a newsroom.
Opinions vary on the stock’s behavior from here. Here’s one analysis.
What’s more important, however, is this:
You can now watch Facebook “the stock,” in addition to the movie about it and founder Mark Zuckerberg.
Simply put, a Hollywood script is no longer needed to tell Facebook’s business story.
Facebook’s performance can be tracked daily via a stock chart.
And its chart may well serve as a barometer on the health and future of social media.
Charts speak volumes about your business. Listen, interpret the story they tell.
Does your PR firm do this for you? As clients know, I do: “I watch you…for you.”
Look in on Facebook from time to time.