MINNEAPOLIS (KMSP) -
Facebook stock shot up at the opening of trading Friday to $43, which was a 13 percent gain, but then the shares fell back to even.
Facebook shares closed at $38.32 – just 32 cents above the IPO price.
Some analysts are saying the fact the price didn't moved too far from the IPO means those who priced the stock at $38 did an excellent job determining its value.
How much does it help Facebook that people like to buy stocks in company's they are familiar with or use themselves? Is that important in the long-term?
And is this is a good stock for a long-term investor?
John Feste, managing principal at Marks Group Wealth Management, answers those questions on FOX 9 News at 9.
