It’s a big day, geeks. This is the day Facebook finally goes public. Yes, at 9:30 AM EDT today, the initial public offering that so many have been waiting for becomes a reality. Trading is slated to start at a mere $38 a share, but expect it to jump like nuts when the floor actually opens. Hopefully, all of you heard about this yesterday and called your brokers and have trades pending. If not, good luck actually getting a share.
In light of the occasion, Facebook founder Mark Zuckerberg will ring the “start of trading” bell on the NASDAQ floor. In a slight break from tradition, he’ll do so remotely instead of being on site. No news on why this is, but it’s certainly interesting symbolism. If you want to witness this live, you can go to NASDAQ.com at 9:28 AM to catch a livestream. I also suspect most news stations will cover the opening.
Popular, high-profile stocks like this are great for traders and investors, but the real winners here are going to be the employees of Facebook who have stock options. Expect several “rags to riches” stories to come out as a result. Assuming Facebook doesn’t vacate the country rather than pay taxes, that is. This is good for the social media giant, good for the economy, and good for the tech industry’s practice of bundling options with salaries.
Will your children one day ask you “where were you when Facebook went public?” Doubtful. However, your accountant might.
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