David Fuller's view There has certainly been plenty of hype and no value investor could touch the share today. An opportunistic and less than auspicious float has been greeted with much schadenfreude and political opportunism, plus some regulatory investigations. The blame for this is mostly directed at Wall Street underwriters rather than Facebook's management.

Whether or not Facebook succeeds over the longer term depends entirely on Mark Zuckerberg and his management team. We know they are very smart to have come this far and criticism of the float may actually help them to hunker down and focus on their business plan for the future.

One development which I heard about yesterday impressed me. Apparently, the company is funding an application with an online broker which will enable people to buy tiny increments of Facebook shares directly through their social media account with the firm, investing amounts from $10 upwards. The premise is that people are more loyal to something in which they have a financial stake, however small. While this app would start as a loss leader, in addition to buying a degree of loyalty it would do the share price no harm if a significant number of Facebook users invested a few dollars in the company.