Facebook Flirts With $38 IPO Price

Article Excerpt

BY EVELYN M. RUSLI

Rarely is there so much at stake in getting back to zero.

On Wednesday, Facebook Inc.'s stock briefly touched its initial public offering price of $38, hitting a marker that felt out of reach in autumn of last year, when the stock was in free-fall. While shares eventually drifted lower, to settle at $36.80, Facebook is still within striking distance of $38?a fact not lost on Facebook's investors, many of whom were burned in the company's botched IPO.

"There's some relief," said Chris Baggini, a senior portfolio manager at Turner Investments, a firm with about $9 billion under management that ...

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Source: http://online.wsj.com/article/SB10001424127887324635904578639751730779858.html?mod=rss_Technology

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