Bloomberg TV communications exec Jocelyn Austin sent Pulse2 the above video of Matt Miller explaining what went wrong on the NASDAQ during the Facebook IPO. Shares in Facebook climbed to $45 before closing at $38.23, a mere $0.23 above the opening price. The underwriters of the deal appeared to have been buying hundreds of millions of shares to support that $38 price. What will happen on Monday when the underwriters are not backing up Facebook’s stock is the biggest question for the social networking company.
Jocelyn Austin Posts
May 18, 2012