Facebook (FB) will soar on first day of trading.
You don't see often an IPO where 3 days prior of 1st day of trading its offering is increased 25%.
That tells me that Facebook demand is not just in the USA but also has worldwide demand for its shares.
This is why I believe Facebook shares will soar on the 1st day of trading.
Problem is if you want cheaper valuations for 15% of Facebook revenue you have to buy shares of ZNGA which trade at forward PE in the low 20's while if Facebook jumps as high as I think it will its forward PE will be in triple digits.