Facebook Says “No” to Paper Stock Certificates
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Those collectors who were hoping to frame their paper stock certificate for their Facebook shares are out of luck. According to AllFacebook, Facebook has changed its mind and will not be offering paper stock certificates, even as a collectible. GiveAShare.com will, however, offer collectors a certificate that is similar to an official one, with statements from Facebook’s transfer agent showing account numbers for stock holdings. OneShare.com will provide a similar service.
Facebook, in its IPO filing, had originally planned to issue the paper stock certificates. According to AllFacebook, CNNMoney and OneShare.com, which were planning on selling Facebook shares that would come with a frame or plaque, had far more orders than usual for the stock certificates. There is no official word on why Facebook has changed its stance and decided against issuing the certificates.
Facebook’s IPO has been considered lackluster, at best. The company’s lowered stock price is being blamed on a combination of NASDAQ technical glitches and secret, last-minute changes in revenue projections. The technical difficulties could be due to large retail buyer demand, possibly these collectors who simply wanted one share of Facebook to show off on their wall. As for the revenue projections, Wall Street is blaming the IPO underwriters.