frankly, they were hired by Facebook to get the highest number. The fact that it stayed north of $30 is astounding to me and they did one helluva job. Those that bought were the morons.
Absolute bullshit says T-Town and Volsnskinsfan. You're an idiot for saying as much. If you had any money you would realize that - but you don't, because if you did you would obviously have invested it in FB at the IPO.
raising the allocation by 50%, the price by 20%, and dumping it all on retail after the institutions dropped interest, is a great way to both ruin your reputation and ensure a lawsuit by your clients. their job is both to get a good price for facebook and have a successfull ipo (meaning at minimum it stays above the IPO price). they are supposed to be acting in both sides best interests. i do think that morgan thought that retail demand was so high it was going to pop anyway. but after this drop, AND teh fact they raised the allocation, they are [uck fay]ed and i bet settle for many millions.
What's the bottom? $25? $20? I know I saw one report that said if the IPO was at 20-22 it would probably be in the mid 40s right now. Not sure I believe that, but I do think it would be low to mid 30s.
I think they have to protect the other side by providing all available info. If there is some culpability here, it's about the late projections being released to a limited audience. That will bite them in the can and should. The job here was really to get for the sellers what they could with as little dilution as possible.
I don't know where the bottom is without digging through the projections. Sounds like the revenue story is a difficult one, but no one is debating their market reach. If they're still debating how to monetize market reach, none of the valuation stuff is worth a squirt of piss, which I thought was the case before the IPO.
Back to the "mom on fb" topic, my mom is up here, and she's makes a point to tell every friend happy bday. She sat here for 20 minutes and told me every update and comment in her news feed. And "mom i dont care" didnt help.
And now she's telling my wife about her match.com account. This morning way require some jack in the coffee.
My mom is on facebook but stays away from mine. I didn't even tell her not to add me or insinuate that i wouldn't like to be her facebook friend. It wouldn't really bother me, but either way, my dad makes up for it with liking statuses and messaging me every time i get on there.
