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?[/quote]
Yes, FB did get their money, and if they are profitable they may never need to go the market again.
If the underwiters did have to eat a lot of shares, and it did look that way as the price slid toward 38, you’ve got a built in overhang on the stock price that must be worked through in the short term.
