The Search Expert Who Bought And Sold Facebook Stock
Buying and holding a paid-search ad "is for suckers," according to Larry Kim. So when it came to Facebook's initial public offering, the WordStream founder bought into the IPO hype, and sold almost imediately. He called his broker at Morgan Stanley and placed an order for 1,000 shares before the stock went public, and then sold them shortly after. Although bullish on the social network, he believes it has a lot of work to do to support advertisers. Kim tells us why he bought and sold the stock.