FB closed around $29 today, but probably has some way to go according to Mark Hulbert. Hulbert bases his analysis on a study coauthored by my dissertation adviser, Jay Ritter, who is an expert on all things IPO. The conclusion of the analysis: Something around $13 would be more reasonable. Ouch.
HT: Reformed Broker.
On a separate note, Felix argues that the FB debacle should be of concern to all of us.
And finally, perhaps we should short it - here's the simple guide to shorting an IPO. HT: Finance at Tepper