Excitement is mounting for Facebook’s expected debut on financial markets Friday. So if you’re an individual investor, can you get a piece of the action, and should you?
The stock saw a quick burst in early trading, opening at 11:30 a.m. ET at $42.05, but within 20 minutes dropped back to its IPO price of $38 a share. The debut was shockingly weak, given all the excitement around the IPO.
Facebook Inc Chief Executive Mark Zuckerberg, and several banks led by Morgan Stanley were sued by shareholders, who claimed the defendants hid the social networking leader's weakened growth forecasts ahead of its $16 billion initial public offering.