enron_by_the_sea wrote: The

[SK in CV]

[quote=enron_by_the_sea]
The joke is that FB will have to do a second IPO now because all the float in the market is now again owned by the underwriter, Morgan Stanley.
http://www.reuters.com/article/2012/05/19/facebook-morgan-stanley-idUSL1E8GIER020120519

[/quote]

That makes no sense at all. Even if Morgan Stanley does own all the float (which, if true, means they own all non-restricted shares), an absurd claim on its face, FB still got the proceeds of this IPO that they bargained for. (I think somewhere around $7 billion, less costs.) Why would they have to do a new offering?