FB is now $27.90... holding up better on the day than the general markets, in fact!
Facebook Buyers Expecting Surge Were Naive
By Michael J. Moore - May 31, 2012 5:20 PM ET
Bloomberg.com
Morgan Stanley Defends Management of Facebook IPO
Investors who bought Facebook Inc. (FB) shares expecting a large short-term increase in the stock price were “naive,” Morgan Stanley (MS) Chief Executive Officer James Gorman said.
“People who thought they were buying this stock so they could get an enormous pop were both naive and ordered under the wrong pretenses,” Gorman, 53, said today in an interview with CNBC. “Why you’re taking companies public is to establish a long-term investor base. To that investor, I would hope that they haven’t panicked during the flurry of the last few days.”
Morgan Stanley was the lead underwriter on Facebook’s IPO, which set a record for technology companies by raising more than $16 billion. The transaction produced the worst five-day return among the 10 largest U.S. deals of the past decade. Investors have cited concern over growth prospects for the largest social- networking service and shareholders filed lawsuits that said the company and its underwriters overpriced Facebook at $38 a share.
More: http://www.bloomberg.com/news/2012-05-31/facebook-buyers-expecting-surge-were-naive-gorman-says.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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