Facebook IPO

Today is the BIG day for Facebook, they’re going public. How many of our readers are going to take the plunge and buy shares in Facebook at $38+ a share? I know I’m not!

I’m reminded of a couple of IPOs in the past, AOL and Palm in particular. Back in the early ‘90s, before the dot.com bubble burst, there were lots of companies with dubious business models that made millionaires out of hundreds of people overnight. As time went on their stock prices eventually came crashing down and investors were left holding the bag.

Of course, the people who had sold their shares early on at huge markups where sitting pretty with all of their cash. Somehow I see deja vu all over again.