I don't know about this IPO...it's all sounding more and more fantastical to me.
An initial market valuation of $36 billion? Seriously...is Google worthy of having a higher valuation than McDonald's? Than Ford Motor Company? It sounds like a bit of a reach to me.
As for the share price (because they could have lower share price with more shares and keep the same valuation), part of me wonders if they've set the price so high just to keep some investors out of the mix. In other words, they don't want the folks that are going to buy 100 shares at $10 a share and try to sell it at $12 or $15 to turn a quick buck. Having an initial share price that high is going to keep a lot of those "make a buck" types out of the initial purchase.
With that accomplished, it would be easy enough to do a double or even quadruple split within a week or so to get share prices down to more resonable levels. I'm not saying that will happen, but it does sound like a possibility.
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