What can $20 buy you? A share of Facebook stock. For the first time, the price of a share of the social network has dipped below $20. As of 12:45 p.m. PT Thursday, the cost had fallen all the way to $19.88.
Facebook’s initial public offering may not have lived up to expectations on the Nasdaq exchange, with the stock slumping from its $38-per-share debut May 18 to approximately $32.25 at the time of this post, but that hasn’t stopped at least 160 U.S.-based mutual funds and exchange-traded funds from adding the social network to their mix.
He (or she) who hesitates is lost when it comes to purchasing shares in Facebook’s initial public offering Friday, as several brokers have reportedly stopped accepting orders for the long-awaited stock.
Investment king Warren Buffett said Friday that he will not buy Facebook shares when the company’s initial public offering launches May 18. But what about average investors who want to get in on the action? Might E*Trade be able to come to their rescue?
A handful of mutual funds may contain private shares of Facebook, but investing in any of them doesn’t even come close to actually buying stock in the social network.