Average Investors Share Facebook Feelings
SCOTT SIMON, HOST:
The Facebook IPO hasn't just sent a jolt of excitement through Silicon Valley, there are many average individual investors who are also thrilled. NPR's Sonari Glinton has more.
SONARI GLINTON, BYLINE: All right. It's a little after 9:30 on Friday. The bell just rang on the NASDAQ, and I'm gonna check in with some regular investors. I'm gonna start with Nelly Sai-Palm. She's a student at the University of Chicago's Booth School of Business, and I'm going to give her a call.
(SOUNDBITE OF TELEPHONE RINGING)
NELLY SAI-PALM: Hey,Sonari.
GLINTON: Hey, how's it going?
SAI-PALM: Going well, how are you?
GLINTON: Fine. So tell me what's going on now?
SAI-PALM: I am on my brokerage account, I am about to place my trade for Facebook. So I know it doesn't trade until 11, but given the fact that the market is open, I am still able to place at trade, and so it will be executed whenever it gets open, and hopefully I get it.
GLINTON: Why get in today? Why not wait a couple of - a week or two or more?
SAI-PALM: Just because I've followed it a lot. I think it's a great company. I mean, I have some concerns, like I'm sure you've heard all the concerns like, you know, tech companies don't necessarily always do well, but I feel like there's possibility it's gonna really go high, in which case then I want to be able to buy some of the stock today, so I kind of don't want to miss out on the action.
GLINTON: Sai-Palm placed and order, and she was only willing to pay $40 a share, and she bought it at that price, and so did John Rutkowski of Newark, Delaware.
JOHN RUTKOWSKI: You know, it's better to come to the dance early than late. Yes, there are plenty of IPOs that will crash and die off.
GLINTON: Are you feeling lucky?
RUTKOWSKI: I'll feel lucky when I analyze it six months from now and say, was that a good a decision or not a good decision?
GLINTON: It's 4:28 on Friday, and after opening at $42.05, shares of Facebook fell to $38.37, which is near the price that was set for the initial public offering of stock. We're going to check in with our two investors to see what they think. Let's start off with John Rutkowski.
RUTKOWSKI: It didn't meet expectations. The hype was greater than what the market would bear.
GLINTON: I asked you earlier if you were feeling lucky. Are you feeling lucky?
RUTKOWSKI: I feel lucky that it didn't go to $3, yes. I feel lucky in that regard.
GLINTON: And now Nelly Sai-Palm of Chicago.
SAI-PALM: I was very excited, and then I kept thinking before I started trading, did I make a mistake, you know, by not being willing to bid more for each share, and I was like, you know what, it will be what it will be. I'm very confident that, you know...
(SOUNDBITE OF LAUGHTER)
SAI-PALM: ...whatever happens will happen. I'm going to have to live with my decision.
GLINTON: Que sera sera.
(SOUNDBITE OF LAUGHTER)
GLINTON: Sonari Glinton, NPR News. Transcript provided by NPR, Copyright NPR.