Facebook under SEC review:
http://www.marketwatch.com/story/rocky-start-for-facebook-ipos-nasdaq-open-2012-05-18
Already the SEC is investigating trading as Facebook was perfectly held above the $38.00 level on Wall Street today. Morgan Stanley and who knows who else (perhaps WFC and JPM, GS, etc.) saved Facebook today so it would not drop below $38.00.
"As a result, Morgan Stanley may have spent billions of dollars to support the stock price by buying shares in the market. Some market participants said that the underwriters had to absorb mountains of stock to defend the $38 level and keep the market from dipping below it."
This could turn out to be not only the largest IPO ever in U.S.A. history but also one of the largest attempts to prop up this stock which could ultimately end in a very serious disaster. Reports of computer problems with the NYSE an NASDAQ also occurred today and questions remain what kind of impact this could have on Facebook (FB) into next week.
http://www.bloomberg.com/news/2012-05-18/nasdaq-manages-16-billion-facebook-ipo-amid-confirmation-delays.html
http://www.latimes.com/business/money/la-facebook-fail-20120518,0,5818946.story
MS, JPM and GS used BILLION$ to prop up the FACEBOOK (FB) price:
http://www.washingtonpost.com/business/technology/facebook-holds-steady-near-ipo-price/2012/05/18/gIQA8bA9YU_print.html
Listen to CNBC today while FB was being delayed for the first 45 minutes. The News UNIT was able to capture this and save it for further review:
...developing...
