Facebook’s Banks Led By Morgan Stanley Make $100 Million ‘Stabilizing’ Stock

Posted on May 24 2012 - 6:32am by Editorial Staff

According to a Bloomberg report, the Wall Street banks that arranged Facebook’s IPO made gains of about $100 million “stabilizing” the stock after its poor debut on the Nasdaq on Friday. Talking in simple words, banks led by Morgan Stanley made huge profits as they traded stock in an attempt to keep it up from sinking too much on day one.

Although, banks made huge high on Friday, but what not intended to is that social giant might likely to consider stock exchange proposal means from Nasdaq to NYSE. Overall, we welcomed Facebook IPO with a huge excitement last week but soon it start fading it up, (see) Facebook IPO investor sues Nasdaq over first day trading delaysNasdaq regrets over Facebook IPO delay on first dayRegulators might review bank’s Facebook allegationsFacebook earnings revision by numbers and Facebook IPO update: Analyst cut its ratings on Nasdaq

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.