After a mountain of media coverage and hype, the world’s largest social network recently went public in one of the biggest IPOs in history. Yet, just as soon as Facebook went public, its stock quickly plummeted, losing small-time investors billions of dollars.
At the same time, its underwriters – which included major financial giants such as Morgan Stanley, Goldman Sachs and JPMorgan Chase – made off with a reported $100 million dollars from the deal.
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