Who’s To Blame for Facebook?

The New York Times has an interesting article this morning: “As Facebook’s Stock Struggles, Fingers Start Pointing.”

Apparently, stocks are only allowed to go up, and if they don’t, it must be someone’s fault.

Wall Street is playing the Facebook blame game.

As shares of the social network tumbled in their second day of trading, bankers, investors and analysts wondered what had gone wrong with the initial public offering of Facebook, the most highly anticipated technology debut in years.

Some fingers are pointing at Morgan Stanley, the lead banker on the I.P.O., while others criticize Nasdaq and even Facebook itself. In the aftermath, critics contend that Facebook’s offering price was too high and too many shares were sold to the public, hurting the stock’s performance out of the gate.

So the media is asking if the blame should lie with the underwriter, the exchange or the company itself. My question is: What about the media?

Posted by on May 22nd, 2012 at 10:32 am


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