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What really happened on May 18, 2012, with the botched IPO of Facebook Inc. (NasdaqGS: FB)?
Well, the Securities and Exchange Commission (SEC) just released its version of events under the guise of Administrative Proceeding File No. 3-15339.
And "In the Matter of THE NASDAQ STOCK MARKET, LLC and NASDAQ EXECUTION SERVICES, LLC (Respondents)" the SEC slapped wrists and fined the fools $10 million for screwing up Facebook's IPO - the largest-ever fine imposed on an exchange.
Of course, it's good reading. But there's something missing.
It's called "the truth."
Facebook Stock Ends Disappointing Year One; Any Shot at a Comeback?
One year ago, Facebook stock (Nasdaq: FB) made its trading debut in one of the most highly anticipated initial public offerings ever.
While it's okay to offer a congratulatory happy anniversary, it's been anything but a honeymoon for the company and investors.
Some 421 million shares were sold, raising $16 billion, giving Facebook a whopping $104 billion valuation.
Then the disastrous story began: Shares were priced at $38, opened at $40, and then, within 10 market hours after the pricing, Facebook stock flailed. Technical glitches at the Nasdaq caused a delayed open, late executions and reports, and mispriced trades.
Lawsuits are still pending.
If this Works, Facebook Stock Could be the "Buy of the Decade"
Facebook stock is one of the most controversial stocks in existence today.
With one billion users, investors have been waiting to see if Facebook's business model can pay off, especially after its IPO tanked.
Today, Money Morning's own e-commerce director, Bret Holmes, is going to give you the inside scoop on Facebook stock. Not some theoretical financial analysis, but what the future looks like for Facebook, from a guy who understands e-commerce and can explain how Facebook stock could be the "buy of the decade" for investors.Click here to watch the interview.
Four Reasons Facebook Stock Could Tumble After Earnings Report
Facebook stock rose nearly 3% Tuesday to come within $11 of its IPO price - but a disappointing earnings report could send shares plunging if the social media giant doesn't show healthy improvement.
One of the biggest things to watch when Facebook Inc. (Nasdaq: FB) reports Q1 earnings after the close Wednesday will be how the company is managing the transition to mobile.
What is Facebook Home – And Will it Do Anything for Facebook Stock?
The much anticipated announcement from Facebook today (Thursday) has left us investors with two questions.
The first, what is Facebook Home?
The second, is this finally the development that CEO Mark Zuckerberg needs to rally investors behind Facebook stock, and lift it back above its IPO price of $38?
The social-networking giant Thursday unveiled Facebook Home, a customized homescreen for Android smartphones. Facebook Home highlights all things Facebook - a dream come true for anyone who loves the social media tool.
Could Another Go at a Facebook Phone Actually Work?
A Facebook phone could be in the works, serving as the company's latest bold attempt to increase revenue and make money from its one billion users.
The social media giant sent out invites last week to a press event, "Come See Our Home on Android." Facebook Inc. (Nasdaq: FB) will host the event at its Menlo Park, CA headquarters Thursday.
Rumors state the mobile device will use customized software that's a version of Google Inc.'s (Nasdaq: GOOG) Android 4.2 OS. The software will dominate a user's home screen. Updates and information from a user's Facebook account will be posted constantly.
Industry insiders believe the company is working on the smartphone in collaboration with Taiwan's HTC. This is the second time the companies have collaborated on a Facebook-focused phone - with the first attempt only lasting a few months.
Could it be that second time's the charm?