Facebook shares are still attractive for judging post-initial public offering (IPO). Effects of social networking controversy in the market, especially when the price fell 8.9 percent on the transaction Tuesday (22/05/2012) local time.
Over this incident, the local regulators promised to investigate alleged irregularities involving insider trading. SEC and FINRA, the two regulatory agencies, will review the problems occurred.
Responding to allegations that developed in the market, as underwriters, Morgan Stanley said all processes are based on regulations.
There are allegations, before it was launched in the market, the financial adviser Facebook has revised the outlook to the future performance of the company. Unfortunately, it is estimated only a few investors who know the information.
In trading on Wall Street on Tuesday, investors are abuzz again sell its stake up for the second consecutive day. As a result, these social networking company's shares had slumped to as low as U.S. $ 30.94 before closing at 31.12 U.S. dollars, plummeted 18.1 percent compared to the IPO price, amounting to 38 dollars.
Melorotnya companies that go public companies worth 16 billion dollars was recorded erase gains in early trading on Wall Street. At the close of trading, the Dow Jones Industrial Average fell 1.67 points, or 0.01 percent, to 12502.81. Then the tech-heavy Nasdaq composite index lost 8.13 points, or 0.29 percent, to 2839.08. The S & P 500 index had edged up 0.64 points, or 0.05 percent, to 1316.63, supported by gains in late trade.
source : kompas.com
