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....And to think there was a time when an IPO simply allowed a company to raise cash: sadly it has devolved to the point where a public offering is a policy statement in support of a broken capital market, which however is fully in the hands of SkyNet, as yesterday's chain of events, so very humiliating for the Nasdaq, showed. From a delayed opening, to 2 hour trade confirmation delays, virtually everyone was in the dark about what was really happening behind the scenes! As the analysis below shows, what happened was at times sheer chaos, where everything was hanging by a thread, because if FB had gotten the BATS treatment, it was lights out for the stock market. Well, the D-Day was avoided for now, but at what cost? And how much over the greenshoe FaceBook stock overallotment did MS have to buy to prevent it from tumbling below $30 because as Reuters reminds us, "had Morgan Stanley bought all of the shares traded around $38 in the final 20 minutes of the day, it would have spent nearly $2 billion." What about the first defense of $38? In other words: in order to make some $67 million for its Investment Banking unit, was MS forced to eat a several hundred million loss in its sales and trading division just to avoid looking like the world's worst underwriter ever?
Originally posted by jefwane
The pricing is at $38/share I expect first posted price to be $60ish maybe higher and it will trade higher than that before pulling back. I'm going to take a guess and say high tick will be $85ish and will close the day around 60. However I think you will be able to get it for
Originally posted by BellaSabre
Well, OP, you were right. Several of you were. I'd have lost my arse yesterday if I had sunk money into it.
How did you know? How did you guys know?
I wish I had a good sense of the stock market. Sigh. I suck at it.
Originally posted by silent thunder
It's starting to look like the opening day was even uglier than a pessimist like me dared expect:
Originally posted by silent thunder
It's starting to look like the opening day was even uglier than a pessimist like me dared expect:
Originally posted by BellaSabre
Well, OP, you were right. Several of you were. I'd have lost my arse yesterday if I had sunk money into it.
How did you know? How did you guys know?
I wish I had a good sense of the stock market. Sigh. I suck at it.