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JPMorgan Chase & Co. Message Board

  • sushibn sushibn May 19, 2012 9:53 AM Flag

    FB next for JPM???


    OH MOTHER???

    Company filings after the market closed on Friday night however revealed the extent to which the banks who led Facebook’s initial public offering - in which $16bn of shares were sold to new investors - were forced to move in to the market and buy shares in order to keep the price above the $38 level. Morgan Stanley, Facebook’s lead financial adviser, ended the day with 162m shares, worth $6.16bn. Other banks including JP Morgan and Goldman Sachs also bought shares, ending the day with $3.2bn and $2.4bn holdings respectively.
    The ‘sell’ recommendation to investors will make Facebook’s advisers even more nervous ahead of the resumption of trading on New York’s Nasdaq exchange on Monday morning.

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