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Facebook Raises Anticipated Stock Price
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Facebook Raises Anticipated Stock Price

Business

Facebook Raises Anticipated Stock Price

Facebook Raises Anticipated Stock Price
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Investor excitement over Facebook's upcoming initial public offering has prompted the company to raise the price range for its shares. The social networking company says in a regulatory filing that it expects to sell its stock for between $34 and $38 per share. That's higher than a previous range of $28 to $35.

STEVE INSKEEP, HOST:

NPR's business news starts with a price hike for Facebook shares.

(SOUNDBITE OF MUSIC)

INSKEEP: OK, they're not even on sale yet, but investor excitement over Facebook's upcoming initial public offering has prompted the company to raise the price range for its shares. Sources say the new range will be from $34 to $38 per share. That's up from a previous range of $28 to $35.

The price boost could now push Facebook's value to over $100 billion once it goes public. While there is much frenzy surrounding the social network's upcoming IPO, some analysts say the company is overvalued, especially given its first-quarter decline in profits and revenue.

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