Facebook priced its IPO at $38 a share, raising $16 billion which will be the third largest IPO in U.S. history and the largest ever IPO by a U.S. technology company.
It will start trading tomorrow under the symbol: FB
At $38 a share Facebook is valued at $104 Billion dollars.
At $38 Facebook will trade at more than 100x of earnings or PE
For comparison sake here are the some market caps & PE of some other high tech companies based on today’s closing price:
Apple $495 Billion PE 13
Microsoft $250 Billion PE 11
Google $203 Billion PE 19
Yahoo $18 Billion PE 17
Linked In $10 Billion PE 718