With an initial public expected to raise more than $10 billion and award the social networking juggernaut a market cap close to $100 billion that makes even Google’s IPO pale in comparison, there is no shortage of investment advisor’s promoting Facebook’s stock.
“Many people want to own this unique company and it has the momentum,” says Kathy Smith of Renaissance Capital. Everyone wants a piece of the action.
Everyone? Surely there is a reason that Facebook shareholders like Microsoft and Mark Zuckerberg himself were lining up to sell off massive quantities of their shares. And then there is that anemic growth number Facebook put up for the first quarter of 2012, almost half the rate from the previous year.
Staffing Talk undertook an exhaustive study of the Facebook slowdown. In fact, I walked all the way out to the backyard.
“Hey Thomas, how popular is Facebook at school? What do you think of their IPO?”
“I don’t know,” said the 11-year-old. “I quit it a few weeks ago.”
“You quit Facebook? I didn’t know you could quit Facebook. Why did you quit it?”
“It’s not a big deal, I just wasn’t using it any more, It’s not that cool anymore.”
“How do you quit it?”
“I just looked it up online. It was easy".”
“But how will you communicate with your friends? How will you know what they’re up to?”
“I see my friends at school. We play. I ride my bike to Joey’s.”
So there. That’s one person not looking to buy into the IPO.