Facebook Falls on SharesPost: Counterintuitive Result

Facebook is down $2 a share, despite valuation optimism following the LinkedIn IPO.

Facebook has taken a dip on SharesPost from its recent high of $35 a share, but the deal size has spiked. Are existing investors running for the hills?

SharesPost revealed to SocialTimes in an email today that the hottest social network on the web slipped to $33.01 per share in the auction it closed on June 6, 2011. Though the price was down, trading volume was up by a factor of 2.8. With 280,000 shares changing hands, the deal size was slightly above $9.24 million, far larger than the $3.5 million SharesPost auction that was completed on May 26, 2011.

The higher trading volume is interesting, given the recent experience with LinkedIn. Share price surged relative to recent SharesPost activity when the company went public, indicating serious pent-up demand in the public capital markets.

Facebook isn’t likely to go public until next year, according to speculation in the industry, which means there’s still a long way to go until a big exit occurs. Also, small swings in Facebook on SharesPost shouldn’t be taken too seriously, given the relative illiquidity of the environment.