The glitz and glamor may have gone as the most anticipated IPO for years entered the stock exchange market only to see its initial offering drop by 10%. In a way, I am glad it did, because the whole IPO was targeted towards special selected investors which was snobbery in the first place. These investors got seriously burnt.
What fascinates me is that FB decided to make shares only available to the wealthy and none of the individuals such as you and I and we could only do so after it started trading in the stock market. Well perhaps it was a good thing, since we did not get our fingers burnt. What is ironic though is that the initial offering purchased by the many greedy investment mongers had it’s final price determined by the real people like you and I once it went into trading. What were they thinking of? make a quick profit from their millions while leaving out others. Well this will surely teach them. I hope they have learnt their lesson.
With regards to Facebook as a legitimate company, it still is a strong company and its forecast depending on its business model looks promising. If you were to buy shares in FB, please do so with a view to long term investment. I am tired of the system where everyone is looking to make a quick buck. See what happened with the housing market and now with FB.