buy! buy! buy!
It’s been an eventful year for Facebook stock: From an ill-fated IPO that cost market-makers millions to a share price that plummeted more than 50 percent from its offering price, and most recently, a $5 million settlement between the company’s lead investment bank and a Massachusetts regulator, there’s been hardly a dull Read More
In the aftermath of Facebook’s ill-fated initial public offering, it was hard to blame Joe Facebook-fan for feeling like he’d gotten screwed. Not only had the share price failed to pop, it had plummeted, 13 percent in the first week of trading alone, not the results anyone expected before hopping on Mark Zuckerberg’s supposed-gravy train.
IP Uh Oh
It’s been less than a week since Facebook debuted on the public markets. But each day, it seems, unearths new contenders for another round of the Facebook IPO Blame Game. (Play along at home!)
While Congress plans its investigation into underwriters like Morgan Stanley, Dan Primack dropped an interesting perspective in his Term Sheet newsletter: Blame the “adults.”
Last week, the recently-launched curated recipe site Gojee scored a pick-up from swissmiss, a design blog and studio run by Tina Roth Eisenberg, which called Gojee “a beautifully designed new food lover destination.” Swissmiss referred more users than a review by TechCrunch, co-founder Michael Lavelle told Betabeat this morning. “She put us up last Wednesday and it was pretty much insanity from that point on,” he said, comparing the site’s growth to the viral new music lover destination, Turntable.fm. ”The post sent us 10,000 sign-ups in 24 hours, and it blew up from there.”
But Gojee wasn’t always a beautifully designed new food lover destination.
White Collar Capital
The way that brokers communicate with the public is closely monitored in an effort to prevent scams, false advertising and misleading advice.
It’s the reason why, even as their customers flocked to services like Twitter and Facebook, the big banks banned their brokers from using these services for work.
But Morgan Stanley, the largest U.S, retail brokerage with 17,800 advisers, now plans to allow its staff limited access to both Twitter and LinkedIn, which just completed a very successful IPO, on which Morgan Stanley was a lead underwriter.
Tech Bubble Watch
Some of the nation’s biggest banks and venture investors have partnered with New York City Investment Fund to create the FinTech Innovation Lab.
The program is a annual twelve-week incubator to find and foster promising startups working on financial technologies.
Participating banks include all the big boys — Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley Read More