Facebook Notification: IPO Set for May 18

Facebook Notification: IPO Set for May 18

After over three months of speculation, we finally have a set date for one of the largest initial public offerings (IPO) in Wall Street’s history. Facebook.com Inc. is set to launch its IPO on May 18, with a corporate roadshow to mark the announcement starting as early as next Monday. Currently, the IPO is slated to be valued at around $100 million and that shares of FB could weigh in from $30 to $40. To date, Facebook.com now has over 900 million monthly active users and 125 billion friendships.

Back in early February, I evaluated the social media giant’s prospects and determined that the initial wave of insider selling may make this stock too risky for the average investor. And, to this day I am standing by my recommendation to stay on the sidelines when this IPO launches. However, I am excited to see what the Facebook IPO does to lift the entire tech market. I expect that some investors may rethink their “sell in May, go away” strategies to get in on this historic event. As demonstrated by Facebook Inc.’s recent acquisition of Instagram, this company has clout when it comes to piquing investor interest.

So, mark May 18 on your calendars—I expect that it will be a busy day for Wall Street!  

Sincerely,

Louis Navellier

Louis Navellier

More Louis Navellier

Twitter

Facebook

RSS Feed

Little Book

InvestorPlace Network

InvestorPlace.com