Will you buy into Facebook?
COLUMBIA, S.C. (WOLO/CNN) — At just 28 years old, Mark Zuckerberg is one of the richest men in the country and he’s giving you the chance to have a piece of his fortune. Friday, Zuckerberg’s company, Facebook, went public and thousands bought in. The starting price, $38.00 per share. However, the first trade came in at $42.05, an 11% jump right off the bat. Crandall Sims reporting, “Now that Facebook is public, we hit the streets of Columbia to find out if anyone here would be interested in buying into the company.” “I would love to,” says Nicole Fairly, supporter of Facebook going public. “I want to,” Arjay Ravindre, Facebook user. “I wish I could get a piece of it,” says Tammy Szymanski, supporter of Facebook going public. “I think it would be a great opportunity, Facebook is always growing,”says Judith Mosby, another supporter. “Just as well as she said, it’s a great opportunity for everybody,” says Gerald Walker, another supporter. While it sounds like a great deal, you may not want to get too excited too fast. Investment banks will get priority, they will then trade it to their best clients, hedge funds, big money managers and insiders, leaving you in last place. However, if you do choose to buy there is a method to the madness. “Let the hype go down, let the euphoria die down,” says Ryan Mack, President of Optimum Capital Management. Something many here in Columbia agree with. “I think I would wait a little while, maybe it will go down,” says Ravindre. “I want to be sure of what my money is going into and how it operates,” says Mosby “I’ll probably wait a little bit as well, but I’m very interested in it as well, I’m going to google,” says Walker. Whether now or later, if you decide to buy, there are things to keep in mind. “Limit Order, two words. If you’re going to try to buy the IPO, limit order. That’s going to be very valuable. Place a limit order to make sure you limit the price you are willing to pay on a particular stock,” says Mack.