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Summary:

The time for talking has passed, and the time for buying has begun. We’re tracking what could be one of the biggest IPOs in American history–and what will almost certainly be the biggest tech IPO ever–in this post.

Wall Street

Wall Street4:13 p.m. ET: Facebook’s stock came full circle on its first day as a public company, ending the day at $38.23 with more than 500 million shares traded. That’s barely up from its opening price of $38, but shows that Facebook priced the IPO well, although the company may have had some help from underwriters propping up the stock in the closing hours. But with a market cap of $104 billion (according to Yahoo Finance), Facebook is staked with a lot of capital to build on its growth.

3:52 p.m. ET: Facebook’s share price is back where it started at $38. The much anticipated pop is not happening. There’s still time for the stock to dip below its opening price. Facebook priced this well for itself but it won’t get the buzz that comes from a big first day.

3:00 p.m. ET: Facebook’s share price has slipped below $40 to about $39 putting it up about 3 percent on the day. The same can’t be said of Zynga, whose share price continued to drop after trading on the stock was halted a couple of times. The shares are down about 12 percent now.

2:11 p.m. ET: Doesn’t look like we’re going to get a Facebook pop today, unless things heat up later: we’re still hovering between $40 and $41. 386 million shares have changed hands so far today, and speculation is now turning toward what went wrong at the Nasdaq this morning: some traders apparently weren’t sure if their orders had been processed.

1:06 p.m. ET: Not much change in Facebook’s price, which is now at about $41 a share. Interestingly, shares of LinkedIn, Yelp and Pandora are down today. The Wall Street Journal is reporting that underwriters stepped in to ensure Facebook’s stock didn’t dip below itss opening price of $38.

12:48 p.m. ET: Facebook shares continue to float around a bit, hovering around $40 to $41 dollars a share. Meanwhile, Zynga has taken a hit today with its stock price falling by 13 percent following Facebook’s debut. Zynga’s stock, which was halted for a time, is off about 5.68 percent.

12:04 p.m. ET: So far, no big pop for Facebook. Shares seem to be holding strong in the $38-$40 range, just barely above its offer price. The stock price is about $39.51 right now.  At least it’s not pulling a Zynga, and falling below the opening price on the first day. But LinkedIn, Groupon, Zillow and other recent tech IPOs saw at least a 30 percent pop on the first day of trading.

11:31 a.m. ET: And we’re off! As had been reported earlier this morning, Facebook started trading around $42. Shares are currently at about $40.90, about 7.6 percent above the original price of $38. According to Reuters, 82 million shares changed hands in the first 30 seconds.

11:20  a.m. ET: Alright already, NASDAQ. Trading was supposed to start at 11:05 a.m. But, here we are 15 minutes, still waiting… We’ll keep you updated.

Earlier: The time for talking has passed, and the time for buying has begun. Later today shares of Facebook will begin trading on the NASDAQ stock market in an initial public offering that could set records for the tech industry and rank among the most valuable IPOs in American history.

We’ll track the price of Facebook’s stock below, updating this post throughout the day with news and information about the event. The NASDAQ opens for trading at 9:30 a.m. ET, and closes at 4:00 p.m. ET. Facebook won’t go live immediately — the exchange saves IPO trades so they get their own special boost: we’re expecting Facebook trades to start at 11.

In the meantime, please check out our Facebook IPO coverage up until this point as well as our chart listing recent digital media IPOs, none of which have been as impressive as Facebook’s IPO is expected to be. And if you need some light relief or director’s commentary, check out our links to what the rest of the web is saying.

Image courtesy of Flickr user by Alex E. Proimos

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  1. Andreas Moser Friday, May 18, 2012

    Here are 10 reasons why you should NOT buy Facebook shares: http://andreasmoser.wordpress.com/2012/05/18/dont-buy-facebook-shares/

  2. Lynne Gregg Friday, May 18, 2012

    Let’s see where it sits next Friday…

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