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 delays, Nasdaq regrets over Facebook IPO delay on first day, Regulators might review bank’s Facebook allegations, Facebook earnings revision by numbers and Facebook IPO update: Analyst cut its ratings on Nasdaq