# An op-ed by Prof. Aswath Damodaran on Facebook's IPO

1 Faculty News May 22, 2012 ![Forbes logo](/sites/default/files/styles/246w/public/assets/images/con_030508.jpg?itok=SId6k3bx)>

Excerpt from [Forbes](http://www.forbes.com/sites/ericsavitz/2012/05/22/facebooks-ipo-thoughts-on-momentum-pricing-and-valuation-its-still-no-buy/) -- "Much as I would like to believe that the pricing of Facebook in the IPO was based upon an assessment of the fundamentals, I am a realist. Much of what passes for valuation on Wall Street and corporate boardrooms is not valuation, but pricing."

[Read more](http://www.forbes.com/sites/ericsavitz/2012/05/22/facebooks-ipo-thoughts-on-momentum-pricing-and-valuation-its-still-no-buy/)

Additional coverage appeared in [CNBC](http://www.cnbc.com/id/47529964) and [Business Insider](http://www.businessinsider.com/valuation-guru-facebook-is-worth-29-2012-5).