The first day of Facebook's IPO is in the books. The stock closed at $38.23 a share on Friday. That's just slightly higher than the initial price of $38 per share. So what does this less than 1% gain mean for Facebook and its investors?
FOX Business Network's Dennis Kneale explains:
Many experts had expected Facebook's share price to double, on the first day, or even triple. But the fact that instead it closed right near where the stock first was offered, shows the investment bankers did a good job for Facebook. If the stock price had doubled or tripled, Facebook itself wouldn't have collected any of that money. This shows the company didn't have to leave any money on the table.