Facebook initial public offering (IPO) drop by 16 percent in the share. Individual that want to buy the stock was undercut by difficulties in executing trades on May 18. Facebook’s subsequent decline and question over whether the firm and underwriters selectively disclosed material, nonpublic information.
The IPO getting worst in five days. The 13 percent decline at through May 24 exceeded the 10 percent drop by MF Global Holdings Inc in its first five sessions. Federal securities regulators and the U.S. Senate’s banking committe have said they will or may review the Facebook offering. Some of the investors have sued Facebook, sale’s underwriters and Nasdaq OMX Group Inc. (NDAQ), the exchange handling the listing.
Source :- Bloomberg
Anybody have buy this Facebook IPO?