Facebook raising IPO share price

The social network site is expected to go public on Friday at $34 to $38 a share, which would raise the valuation to up to $104 billion - the highest IPO for an American company. That's a significant boost from the earlier range of $28-$35. The company is expected to formally announce the change on Tuesday. What's interesting is how individual investors have shown more of an interest in the stock than the professionals. (So much for reports last week that demand for Facebook has been sluggish.) From the WSJ:

Jim Supple was driving with his daughter Jade last autumn, when she turned to him and said, "Daddy, can I buy some of the Facebook company?" Mr. Supple, 47, had been teaching Jade about investing in the stock market for years. He started putting money for her in stocks like eBay and Disney when she was a baby. But the request still took him aback. "How do you know about buying Facebook?" he asked. "I saw in the news that they were going to be selling parts of the company," she responded. "Can we buy some?" Since then, Mr. Supple has been trying to find a way to take $25,000 he has saved for her college fund and purchase Facebook stock. "She doesn't need this money for another eight years," says Mr. Supple. "If it goes the Google route, I'll be in good shape."