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IPO Edge Editor Jannarone on Morgan Stanley’s Blame in Uber Debacle – Cheddar TV

John Jannarone

The Uber IPO has been a nightmare since Friday morning, but who’s to blame? In an interview with Cheddar, IPO Edge Editor-in-Chief John Jannarone explains that Morgan Stanley and other underwriters faced a serious challenge in finding the right buyers for $8 billion of shares in the Uber IPO. When so many shares are hitting the market, it can be difficult to place them with long-term investors rather than “hot money” that only buys to make a quick buck.