Conflicting views on Facebook’s IPO

Following its frenetic IPO launch at $42.05 a share last Friday, social networking site Facebook was back at $38.23 – Thursday’s proposed price – by afternoon trading Monday, disappointing many analysts and investors. During initial trading the stock rose as high as $45, only to drop back as the day wore on.

Media reports were that Nasdaq glitches didn’t help – initial trading was delayed for half an hour due to issues with some orders.

However, there were many positive voices, with one analyst telling CNBC: “Fifty-three percent operating margins, 901 million users around the world. … They can provide detailed targeting to advertisers.”

Observers will be watching Monday’s trading closely.

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