While it sounded like a sure thing, it was apparently anything but. Investors lined up to take part in last week’s Facebook IPO with hopes of skyrocketing returns, but instead of blasting off, the stock lost ground. For Facebook, it might as well have crashed and burned. Nothing is certain with stocks, of course. But this week it was reported that during its pre-IPO roadshow, some potential investors were given special advance warnings. The result was that some fund managers either slashed the number of shares they intended to buy, or declined to buy the IPO at all.
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A Chosen Few Escaped Facebook's IPO Fumble
Posted by: Peter Suciu May 24, 2012 01:58 PMWhile it sounded like a sure thing, it was apparently anything but. Investors lined up to take part in last week’s Facebook IPO with hopes of skyrocketing returns, but instead of blasting off, the stock lost ground. For Facebook, it might as well have crashed and burned. Nothing is certain with stocks, of course. But this week it was reported that during its pre-IPO roadshow, some potential investors were given special advance warnings. The result was that some fund managers either slashed the number of shares they intended to buy, or declined to buy the IPO at all.