The unprecedented marketing and spin put on the shares of FaceBook's IPO have made for a great payday for many participants. Who made the money?
1. Insiders - those that bought early and had a main role in the marketing of the shares. They sold a lot!
2. FaceBook employees
2. NASDAQ - huge trading volume and publicity
3. Underwriters - huge revenues and commissions
4. Retail Stock Brokers - How could any of their clients refuse to be so "lucky" to receive so many shares of a hot IPO? They couldn't get in on any of the hundreds of other deals that went up 50% or more the first day of trading; but, they were fortunate enough to get all they want of this issue.
5. CNBC and other media outlets - they pushed the story for weeks and increased their viewers and advertisement dollars from Wall Street institutions.
6. Large institutions who were informed ahead of time of the large retail demand
7. Countless others that had their hand in this huge "show".
Who may not make money?
I think you know the answer. You will hear all kinds of back-peddling, excuses, spin, etc.....They will now try to appear balanced in their opinions (they already made their money).
