Home › Forums › Financial Markets/Economics › Is Facebook IPO more like Google or Groupon? › joec wrote:Wanted to add that
[quote=joec]Wanted to add that Morgan Stanley also had to step in and buy shares to support the price so it doesn’t drop BELOW $38 so if they didn’t do that (it’s legal btw), the offering may have done a bit
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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
In other wierd news on this topic, some dude put in a limit order for $4000 on Friday for a buy! That is a limit order for market cap of $10.5 Trillion! Perhaps this was a case of fat finger … http://blogs.wsj.com/marketbeat/2012/05/18/crazy-but-true-a-4000-facebook-limit-order/?mod=google_news_blog
