Facebook IPO Stumbles
Late last week, Facebook made history when it hit the Federal Stock Exchange by pricing its stocks at $38 a share, which raised $16 billion in the third biggest IPO in U.S. history and the largest by a technology company. The IPO also values Facebook at a whopping $104 billion, the largest ever valuation for a newly public company.
Ok, now I am not going to pretend to know what any of that previous paragraph means, but I do know one thing: Mark Zuckerberg and company may have overvalued themselves. Over the past week, the talk of the business world was that because of the overvaluation, shareholders have already lost over $100 million. Not good, hence the thumbs down.
American Idol Crowns a Winner
It's difficult to believe sometimes that this was Season 11 of American Idol. It's even a little more difficult to believe that the winner of this year's show has the name Phillip Phillips. That must have been an awesome experience for him growing up.
What is even more difficult to believe is that during his run on American Idol, Phillips underwent eight different surgeries to remove built-up kidney stones. He will undergo another surgery to hopefully fix his kidney problem, and he should be ready to go for the American Idol Live tour.
Happy Memorial Day!
This weekend, people across the country will be celebrating Memorial Day, a day to celebrate the lives of the brave men and women who died serving as part of the military. We would like to wish everyone a very happy Memorial Day and we hope everyone has a great weekend!