Barry Diller: Facebook IPO Speculators ‘Deserve Whatever They Get, Good Or Bad’
Facebook’s oft-criticized initial public offering has at least one high-profile backer: InterActiveCorp Chairman Barry Diller, who spoke out in favor of the social network’s $38-per-share launch price on CNBC’s “Squawk Box” Tuesday morning.
Facebook’s oft-criticized initial public offering has at least one high-profile backer: InterActiveCorp Chairman Barry Diller, who spoke out in favor of the social network’s $38-per-share launch price on CNBC’s “Squawk Box” Tuesday morning.
Diller said on the morning show, as reported by CNBC, that it made sense for Facebook to price its IPO as high as it possibly could, and investors who bought in at the IPO price were likely speculators, and not in for the long haul, adding:
If you’re going to sell stock, and somebody wants to buy it at a price, and that price is not a price you dictate, but demand dictates, sell it to them now.
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