Facebook shares crash below IPO
After going public on Friday at $38 a share and peaking at $42, Facebook stock fell below its offering price on Monday and is now trading at $34 a share. On Friday, Glenn warned that the record setting $110 billion valuation of Facebook by JP Morgan Chase was a scam. Glenn senses something very wrong with the way the Facebook IPO unfolded, and the ties between Facebook, JP Morgan, and the White House make it all the more alarming. Ref. Source 3
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