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Tuesday, May 22, 2012

Facebook’s Stock Slump: Banks, Nasdaq, Greed Get The Blame

Morgan Stanley is one of the banks sharing the blame for Facebook's disappointing stock market ride since going public last week. (AP)

Morgan Stanley is one of the banks sharing the blame for Facebook's disappointing stock market ride since going public last week. (AP)

Facebook’s performance on Wall Street has investors wondering: What’s not to like? After the social network’s stock fizzled on Friday in its long-awaited debut, its stock fell 11 percent on Monday, even as the rest of the stock market rallied. The benchmark Dow Jones industrial average on Monday rose 135 points, or 1.1 percent, to 12,504.48. The S&P 500 rose 21 points and the Nasdaq jumped 68. Futures trading suggests a slightly lower open.

Guest:

  • Roben Farzad, Bloomberg Businessweek writer
Other stories from Tuesday's show

We welcome comments from all of our listeners. Post below. Please stay on topic and be civil. Comments may be moderated by us, but you are solely responsible for the content of your comments.

  • Walt

    Of course, there is also the fact that the whole stupid thing was over-hyped by the news media, which seems to be completely in love with Facebook, for what possible reason I cannot fathom.

  • J Frog

    Of course the financial meltdown effected Greece. It also effected Germany, Canada, China, Australia, etc. Why no crisis in those countries like Greece? And why are the southern European countries (Greece, Spain, Italy, Portugal) seemingly the most vunerable? Are the hedge funds only going after the warm climate countries?

    • jefe68

      What? 

  • Easy E

    With all the talk about tax inequality, corporate greed and the like. Facebook stock stalled primarily because of the founder’s, Mark Zuckerberg, greed. He has become one of the richest men in the world and made expressions of his desire to give up American citizenship to avoid paying taxes. That’s descipable and that’s in large part why Facebook’s stock is unpopular

    • jefe68

      That was not Zuckerberg, it was the co-founder Eduardo Saverin who actually was already living abroad.  Your information is wrong on both counts.
      FB’s stock is falling because it should never have been an IPO in the first place.

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