In one of the silliest stories of the year I’m continuously amazed at the “outrage” over the Facebook offering. IPO investors are upset that they didn’t get the initial spike to make their day trades successful. Any actual “investor” would be happy that the stock has dropped precipitously from the IPO price as now they have the ability to pick it up at cheaper prices. Many smaller retail investors don’t even have access to big ticket IPO’s such as Facebook, which makes it even more appalling that the media seems to think that these so-called investors have some right for the stock to rise sharply so they can cash out. Now I do think that Nasdaq’s performance was miserable and worrisome but the majority of the complaints revolving around the issue of the IPO are beyond frivolous.
http://online.wsj.com/article/SB10001424052702304019404577420660698374718.html?mod=business_newsreel