SF Company Expects To Sell Lots of Facebook, One Share At A Time
SAN FRANCISCO (KCBS) - When Facebook goes public on Friday, a company that caters to the smallest of retail investors expects to take a lot of orders from customers who want to buy just a single share.
"People are buying one share not as an investment. They're buying just to be a part of it, to have a connection with a favorite company or a favorite brand of theirs," said Lance Lee, describing an overlooked segment of the market served by his company, OneShare.
KCBS' Tim Ryan Reports:
Not since Google in 2004 or Martha Stewart's company in 1999 has an initial public offering generated this much interest in owning a framed stock certificate, he said, although in this case the $39 frame costs more than the stock in question.
"In this case, I think people want to be part of this whole brouhaha that's going on, and what could be more democratic than just one share?" Lee said.
OneShare does a brisk business framing stock ownership in brands like Burger King, Coca-Cola, Harley Davidson and Dreamworks for young people whose parents or grandparents see a clever way of teaching a child something about the stock market, Lee said.
So it should be no surprise his best seller is Disney.
"We have many stories where they're telling the parents, 'I own Disney.' Well, I guess they do," Lee said, adding that stocks sold in children's names come bundled with a financial literacy program.
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