Facebook? You Might as Well Buy a Lottery Ticket: Analyst
AP
A few hours before the oversubscribed, wildly sought after Facebook shares are priced in the company’s public debut, Max Wolff, analyst at GreenCrest Capital, said buying in now would be like “buying a lottery ticket.”
“Anyone chasing any hot, big IPO is taking a significant risk; while it’s good for some people some of the time, when you buy a lottery ticket, it doesn’t always win,” Wolff said on CNBC’s “Worldwide Exchange.”
That said, Wolff “likes” Facebook, calling it an important innovator which is “here to stay.”
So what does that mean for the retail investor? Exercise patience.
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