The financial world we live in is just as wild, if not more, than the mountains and woods we walk through. We are told that the fundamentals of our economy are strong, but we can feel that something is wrong. My unique financial background and survival passion make Financial Survivalist and excellent place to learn and share.

Monday, May 28, 2012

Facebook IPO Fraud Investigation

7:51 AM    No comments

After the IPO of Facebook flopped, many people are left asking what happened? Essentially, they gave new revenue data right before the IPO that forced them to revalue the stock. In the first day of the IPO, several of the underwriters had to "prop up" the stock's price in order to keep it from crashing.

However, despite their attempts to hide it, the poop floated to the top of the water for everyone in the pool to see. It wasn't a candybar this time. Seriously though, did anyone ever really believe that Facebook was worth close to $100 billion?

Read the article from Reuters.

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