Facebook Sets Stock Price at $38

Facebook has confirmed that it will price its stock at $38, raising $16 billion to $18.4 billion in its IPO.
The IPO may be the second-largest ever in the U.S., next to Visa’s. It will also be the biggest tech IPO. Facebook will start trading Friday on Nasdaq under the symbol “FB,” Facebook confirmed Thursday afternoon.
The price is on the high end of the $34-$38 range that Facebook had disclosed in an amended S-1 earlier in the week.