Want to own a piece of Facebook? The social media giant is said to be planning to file papers for an Initial Public Offering (IPO) as early as this coming Wednesday. But does that mean the public will be able to buy shares in Facebook?
FOX Business Network's Shibani Joshi says perhaps not, at least not initially:
Typically, IPOs are reserved, because they are in such limited supply, are reserved for the elite customers of the big banks, so you're not gonna be able to add this to your college or retirement plan, or your 401k plan.
That doesn't mean you won't be able to hold Facebook shares. Usually, it's the first day that is the hardest to get. The second, third, fourth day, and as shares become more available, you can most certainly expect that if you want them, you'll be able to buy them.