What's Up On Wall Street - Matt Nesto, Yahoo! Finance

It's FaceBook Friday here on the financial exchange we are. Less than 55 minutes away from the FaceBook IPO when you will be able to buy your first shares. In FaceBook and unless you happen to be a fund manager for fidelity isn't Girardi -- did you bought a couple billion dollars worth. At 35 so very what are the chances of getting. Into this FaceBook and finest FaceBook stock today for like the average guy you can get is just a matter how much you're gonna have to pay -- war. I walked down the hall and we've got some orders that are being placed for FaceBook shares you know we got some clients that better bike if not normally detect the stock that I would buy from -- my clients -- to head the risky it is very yeah absolutely what's the value. Right now which you know what would you say it is that value is what somebody's willing to pay for yeah. -- -- And -- and a lot of people that you were talking about Google earlier in what happened with that and of course like. Thinking maybe this is the next Microsoft the next apple didn't. And it might be but it might not -- We don't know -- could be the next Groupon in -- they with the market do it is it is Facebook's even today yet wolf now the Dow is up twelve and the S&P. Is up to sell you know we really cannot complain. Everything is great and I just -- -- and yet the NASDAQ is down six and you know we're doing all right it's kind of a mixed. Bag on the board right now. -- gonna go to the floor of the NASDAQ and were talking to manifesto from Yahoo! finance is in new York at the NASDAQ waiting for shares opened Matt welcome to the show. I -- -- you know great to be here. Hey U what what's the what's the buzz woody here and down there how much is this thing you know go to on the as soon as it opens. Yet it is I heard I think are not getting a really between -- so target yet on what people are saying. It's certainly is about as opposed -- big crowd inside and outside the building and interstate. And the NASDAQ is basically store on. There's not petty traders here percentage but it is the media circus today there's. Dozens of different live shots impressed -- over the world with your it was bigger -- just. Rated to Mark Zuckerberg it's -- sister who's here at the at bat just passing through the -- of course -- medal of California staying clear. -- -- it's going to be certainly a dramatically higher open and then once we see some of those -- you're talking about passing through the open orders. That just -- tried a bit higher and that we could see the stock easily double. So you wanna be careful if you're put in an order you wanna put a limit order in right you don't wanna be just do and and a market order has gotten. Lord knows what it's gonna -- off. Right I'm more importantly in order to -- still leader -- -- by some -- -- if you -- if you're willing to buy. FaceBook today in the aftermarket. You should pay whatever you want to -- sorority committing to the fact these crazy. You see you're not real bullish on FaceBook and by the sounds that they you don't think it's not. You know it's a wonderful company it's only worth about 25 billion dollar in reality -- hundred billionaire 150 going depending on. You know what it Dudley did four billion dollars -- Now but that's what they set out that's what they said about Google you covered the Google IPO years ago. This same sentiment toggle is not worth 85 bucks a share and I'll look at it now. Where you went on Saturday you know be in Google's Google they cut their -- size controlled yet. And that penetrated that seven times or not 25 or thirty times arms sales so you know this one's priced to perfection it reminds me of like but -- more with a lot of loose skin looking grow into the suckers got into growing 23 years to grow about -- -- -- so all of it on the table. What are most troubling. It was back and some of the smartest most sophisticated investors. Were increasing amount of stock they were willing to shell. Not what the deal that so much larger. One -- parts are from Goldman Sachs are selling. Now I don't know is that what's happening early that you're seeing the big institutions say they have they're gonna get if somebody stupid enough to pay 38 dollars a share we're gonna sell while. In the midst of the worst week of the markets at a six month. And we're staring at -- you know like that. It is -- any other -- they would say can do -- -- market conditions were gonna put up this IPO for a week or 20 yeah but not this sucker for going crazy. -- do you think that the the market's selloff during the last three weeks has been people accumulating cash so they could buy shares. -- Are not -- lap and of course not let I'm just trying to get through he's out. Dread to think about a result that's what the market fell well -- -- that BO degree in the spare in Spanish in the French. Are trying to responsibly can lecture so based book. And it would about Mark Zuckerberg sister -- did he give her some shares some founder share. Yeah Russia Scientology should recently left the company at the World Bank. With that you know would be on our stock she has interest or. She's probably -- -- I -- millionaire you know she's probably one of the capital level billionaires right -- now with a -- Or Gloria you know hundred millionaire. And he's so we take a lot of need of some of the people that got an early. Couple 100000 shares or can and an out on the toilet paper also. But -- I heard there's 5800 new billionaires as a result of this IPO just based on August 38 dollar price so we'll see what that does. You'll open up and I want to get Iraq. It's an unbelievable company there's nobody else down social media they can reach 900 million people what the problem as the one they doubt he's been hurt. What the whole story about MySpace which -- this you know the laughingstock of social media and Rupert Murdoch Coptic buying it blah blah blah but -- battery gets what brought down MySpace was new competition that nobody saw. And it and it ruined user experience to try to monetize. They're user base which is I -- what an honorable people got kicked off. And the thing what you know extinct if not exactly. Been -- based -- past. Now in a different way. While -- battery or you ID let me ask you though -- it because we're hearing it -- I talked to a couple of traders and they think it's gonna go to seventy dollars a share Cramer over at CNBC says seventy dollars a share. He did it goes to seventy goes to sixty whatever goes -- does it really come back very quickly it like it if you're better off waiting thirty days to buy this thing. I don't think I'd -- ninety because they think. When the -- outcomes -- in the first round and insiders that the -- And ninety day or her six month lock up but what will find out soon enough and are creepy -- come out. So I I got a problem here bad this is a personal problem that I can can we can we talk it it can kick or do you guard might might my wife. Is he told she said -- get me some shares of Facebook's hit that she's in New York right now actually she's she's right -- corporate. So she say you get me some shares of FaceBook and I try to talk her out of it but she's insistent on buying shares of FaceBook. They -- -- I think you know you know it then that is a win win. Right if you get important she's -- the -- history are you get on -- she's drawn funny you've -- you know Hollywood a little. There's a trait that's the trade and look at our. There are invited. I I hit it hard -- -- he owes you and LeBron -- ninety music -- that you didn't take the garbage out you know we've got pictures pace that at a market. How long how long can -- use that for the if she loses -- Are you kidding me. They do it long -- you would use it against you and you know and they in the Puerto. Merrill grievances that got precedent that you don't -- it pulled up from things -- your second pick in the course of an argument that's right.