Facebook: The Stock That Keeps on DroppingBy
Facebook, you surely know, is now chiefly synonymous with IPO disaster. Brokers and market strategists drop the word alongside “Libor” and “Flash Crash” to explain Mom & Pop’s disenchantment with the market. California says its tax revenue is at risk because of the Silicon Valley company’s stock’s swoon. The social network’s dud IPO has also poked millions of francs of red ink out of UBS, the biggest Swiss bank.
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