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Monday, May 21, 2012

FaceBook Under $38 As Artificial Underwriter Support Ends



Tyler Durden's picture
Submitted by Tyler Durden on 05/21/2012 08:14 -0400



About Face(book) took all of 24 hours. The FaceBook $38/share support freebie courtesy of Morgan Stanley is now gone. As of moments ago the stock was well below its IPO price and sliding. The humiliation for a Zuckerpunched Morgan Stanley, which is now funding its $70 million IPO fee with hundreds of millions in sales and trading losses, and which is scrubbing any mention of the FaceBook IPO from its pitchbooks, and of course the NASDAQ, is just soaring by the minute.

Recall: PeakBook
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