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It's been well-documented that many orders went unfulfilled for hours on the IPO day. That's the whole point of this article. Other than pointing to Google, wha
by jessedhillon 14y ago
It's been well-documented that many orders went unfulfilled for hours on the IPO day. That's the whole point of this article. Other than pointing to Google, what's your substantiation for this claim that the massive drop reflected the market's lack of confidence in FB's valuation?
- veyron 14y agoFor example, search for "facebook earning estimates before ipo" http://www.reuters.com/article/2012/05/22/us-facebook-forecasts-idUSBRE84L06920120522 http://www.reuters.com/article/2012/05/22/us-facebook-foreca... > In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company.