Wall Street Bankers Secretly Scammed Facebook IPO Buyers

Wall Street Bankers Secretly Scammed Facebook IPO Buyers

Wall Street Banks scammed the public when they shared secret earnings estimates and valuations of Facebook with insiders much worse than they publicly reported.

Facebook continues along its epic drop from its opening trading price of $42.05 to a new low of $30.98 of today as the SEC and FINRA are likely to open an investigation to circumstances surrounding Facebook’s public stock offering.

The plummet comes as Reuters revealed that Wall Street Banks scammed the public when the secretly cut their revenue estimates for Facebook during the IPO roadshow and only let their most lucrative retail investors now about the cuts.

By withholding the information from the public, millions of mom and pop retail investors were set up for a blood bath, and as quoted from the Yahoo! News article below, Facebook IPO buyers deserved to be “mad as hell” about it.

Facebook crashed a whopping 10% from its opening price last Friday and at the end of trading Monday closed down 20% from Friday’s opening price leaving millions of people burned for 20% losses by Wall Street’s scam.

Those losses will only continue as financial news outlets report that the offerings IPO valuation of over $100 billion is up to 10 times higher than the price Facebook is actually worth.

Further contributing to the downward trend are a slew of negative media reports now hitting the wires about Facebook’s prospects as Wall Street continues to take every avenue they can to bet against stock.

Categories: ECONOMY

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