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Facebook's IPO whodunit
As Facebook's stock started its first week of trading, there were some startling allegations as to why the stock was tanking.
Facebook itself may be responsible for investors' tepid response to the social network's stock, which has been mostly falling since it went public on May 18. (As of Friday morning, Facebook shares were bouncing around the $32 level, down about 16 percent from the $38 IPO pricing.)
Initially, it looks like Morgan Stanley, the lead underwriter on the massive offering, was to blame for allegedly telling major clients it had reduced its revenue forecast for the company, … Read more
