Facebook Drops to $39, Is This the End of IPO Hype?

It seems that all the hype in the world can't save Facebook

today.

I wrote about this and other concerns

, noting that hype can backfire or have no affect at all on an IPO. That seems to be the case for Facebook, which was priced at $38 last night, opened today at $42.05, and has now fallen back into the $39 range. At one point it even dropped down to $38. This is a far cry from the IPOs of LinkedIn

, Groupon

, and other companies whose initial public offerings received a ton of hype.