Facebook IPO – the hunt for a scapegoat starts

You had to be quick to short Facebook.  Only a couple of hours on Friday did it stay above the offer price.  Morgan Stanley and others supported it for a while on Friday.  Now it is down 10% at around $34.  Pundits are blaming Morgan Stanley for pushing the stock to the top of the estimates and releasing more equity than originally intended.  I blame the numbers – Zerohedge has a nice summary.  These tell their own story for anyone who did a little research on the company’s fundamentals.

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