Facebook stock closed at $35 in an auction on SharesPost yesterday. That means the company’s value has reached a new high of $87.5 billion, assuming the company still has 2.5 billion outstanding shares.
This closing price marks a $3 rise in the stock since the last auction occurred in April. Reporting auction results late in the afternoon before a three-day holiday weekend seems like a recipe for going unnoticed, so it will be interesting to see how long it takes for other stock watchers to notice that Facebook’s value just hit a new high.
Nonetheless, these auction results reflect a rash of recent talk about initial public offerings. Facebook Chief Executive Officer said “not yet” when asked Wednesday whether the company would do an IPO, but that hasn’t stopped the media from continuing to speculate about a possible deal.
Yet LinkedIn’s market debut on May 19 has given the strongest signal yet that the U.S. appetite for IPOs has returned, and some wondering whether a technology bubble has begun. All of this surely helped fuel the rise in Facebook’s stock price over the last
SharesPost sent the following email to members about the auction:
We are writing SharesPost members like you who indicated they would like to occasionally receive news from SharesPost.
We would like to inform you that SharesPost’s affiliated broker-dealer completed its auction of 100,000 shares of the Class B Common Stock of Facebook, Inc. yesterday, May 26th. A clearing price of $35.00 was established at the auction. Members submitting Qualifying Bids at or above the clearing price will be contacted shortly with instructions on next steps for completing this transaction.
SharesPost members who wish to be informed of and be eligible to participate in future auctions of private company securities must first be qualified by our affiliated broker-dealer as an accredited investor under the securities laws. To get qualified, please click on the green button below. We look forward to serving you at SharesPost in the future.
Readers, do you think the latest transaction reflects what the stock is really worth?
Source: All Facebook
Friday, May 27, 2011