Rocky Start As Facebook Makes Its Wall Street Debut
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Did Facebook just lose face or just kind of lose face? Investors who were hoping that hype had paid off and sit back and watch the IPO double on its first day were a little disappointed. The stock surged 11% as soon as it opened, then immediately dropping and struggling much of the day to stay even with the open - $38 per share. At the close on Friday, Mark Zuckerberg’s stock value was holding just north of $19 Billion - propelling him into one of the richest people on the planet. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox News’ Your World with Neil Cavuto to examine Facebook’s lackluster performance on their stock market (Nasdaq) debut and how it could potentially be a good thing to the economy.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.