… and in some perverse logic the stock of just about any internet stock, U.S. or Chinese, began flying. I would never make that connection as a reason to buy anything but that's the market for you. Always doing something strange.
Junk Lower quality stocks like RenRen (RENN) and the like are up 15-20%…
Anyhow here is the news for Facebook if you are cool enough to get IPO shares.
- Facebook Inc. could file papers for an initial public offering as early as next week and is close to picking Morgan Stanley as the lead underwriter for its IPO, said people familiar with the matter.
- Facebook could file papers for the IPO as early as this coming Wednesday, but that timing is still being discussed, said a person familiar with the matter. The company is currently looking at a valuation of $75 billion to $100 billion, this person said.
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog