Facebook IPO Poll: Expect a Pop
MENLO PARK, Calif. (TheStreet) -- The overwhelming majority of TheStreet's readers expect a pop from Facebook(FB) on its eagerly anticipated first day of trading as a public company.
Almost 47% of respondents to TheStreet's Facebook IPO poll predict that the company's shares will close above $50 on Friday. There has already been market chatter in the blogosphere that the stock could surge even further.
After months of speculation, Facebook priced its IPO at $38 a share after market close on Thursday as the social networker gears up for the biggest ever offering from a tech company. Earlier this week, the Menlo Park, Calif.-based firm had increased its IPO price range to between $34 and $38 a share, underlining the intense investor interest in the offering. Facebook had initially predicted a range of $28 to $35 a share
The price of $38 a share gives Facebook a valuation of $104 billion, significantly above the market caps of tech heavyweights Dell(DELL) and HP(HPQ) . At $38 a share, the offering would raise more than $16 billion.
Just under a quarter of respondents to TheStreet's poll expect that the social networker's shares will close between $45 and $50. Around 12% of respondents think that the stock will close below $34 and just under 8% think that it will close between $34 and $38.
--Written by James Rogers in New York.
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