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The whole reason to go public is to sell your company to the public and the company uses that money to help grow the business. If you were Facebook, what would you do to grow your business? How do you generate MORE profit without pissing off your members? What would you do with the money to grow the profitabillity??? How many more Facebook users are out there that this money will help to bring in???
It could be that the IPO will allow Zuckerberg to cash out and take the money with him. Then the new owners (stockholders) will be on the hook to produce growth OR the value of the stock the stockholder have will drop rapidly. It ain't worth owning if it does not grow or at least pay a dividend. If they can't find opportunities to grow they could just start handing out dividends from profits then you can better evaluate the investment as it would compare to other dividend paying investments. Unless that happens, you need the growth angle to work.
If you want to believe there IS a growth opportunity then go ahead and buy some but it might be better to wait a few quarters to see what the game plan is and see if they know how to execute the plan.
Bottom line - you might want to look elsewhere to see if this is the best opportunity you can find for your money before diving in. JMO.
-Mark.
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