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SEC Decides to Investigate How Facebook and Twitter Are Trading Shares
- jdp23 16y agoHere's the original article from WSJ: http://online.wsj.com/article/SB10001424052748704071304576160881058764852.html http://online.wsj.com/article/SB1000142405274870407130457616... NY Mag speculates as to why. "It might have been that the rapid growth of sites like SecondMarket and SharesPost are making it easy for early shareholders to unload stock at a time when Facebook valuation is $50 billion one month and $84 billion the next. It might also have dawned on the SEC that it's not in the middleman's interest to keep the stock at a fair value. Or perhaps the SEC realized that there's a multibillion market for companies that might soon be unleashed on the public operating with little to no government oversight."
- davidu 16y agoI wish the SEC would focus on the real financial crimes. Even at billion dollar valuations, these trades are being done by qualified investors and are insignificant in volume and dollar amounts compared to these systemic allegations: http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216 http://www.rollingstone.com/politics/news/why-isnt-wall-stre...