>Undecided. put this here in news or under humour.
>
>Facebook shares now trading at 19.85, about 50% of the offer price.
>All that investor money just disappears like a popping soap bubble.
The offering underwriters did their job perfectly, getting maximum value for those who sold their shares in the IPO (and incidentally maximizing their own commissions). The money didn't disappear, it just got redistributed.
The only question in my mind is whether there was any fraud in the form of insider information or lack of disclosure e.g.
http://www.thestar.com/business/article/1182879--facebook-ipo-another-day-another-lawsuit
Regards. Al
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