I have to say watching the hype around the Facebook IPO you’d be forgiven for thinking that this was a “must buy” of the century. Actually, I’d say that I agree with a lot of the larger (and shrewder) investors that its one to pass on. You have to ask why many of the early investors such as Tiger Global are increasing the shares they’re selling from 3m to 23m? Is it because they think its peaked and its got as good as its going to get?
I really hope that a lot of people give it a wide birth. The valuation has gone to ridiculous levels that I just can’t see how it will ever be justifie
Let’s see what the next few days of trading brings!