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by zgohr 5127 days ago
Do you have proof? I know that on opening Friday we saw it sit at $38.00 and that was obviously MS, but since then I don't see any evidence in the stock price that this has happened since. On the 23rd the stock traded at 31.53 a few times but later in the day traded at 31.52.

I'd love to see MS take a beating for that 100m they got for underwriting this poorly orchestrated IPO, I just haven't been able to see it happening unless there is proof I am unaware of.
3 comments
tomkarlo 5127 days ago
At least for the first day, this was documented (and expected) from the underwriters. http://www.businessinsider.com/facebook-banker-morgan-stanle...

Underwriters start out with a net short position on an IPO so that they can step in to support if necessary.

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evilbit 5127 days ago
http://www.google.com/search?q=greenshoe
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rondon1 5127 days ago
NO I don't have any proof. If wall street left lots of proof in their wake, people would have gone to jail during the housing crash. Maybe I'm wrong, Maybe the stock randomly hit 34,32,30,29 and plateaued because normal investors put in orders for those prices.
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