Filed under: JP Morgan Chase, Facebook, Stocks in the News
By Henry BlodgetAnd now for some more bombshell news about the Facebook IPO...
Earlier, we reported that the analysts at Facebook's IPO underwriters had cut their estimates for the company in the middle of the IPO roadshow, a highly unusual and negative event.
What we didn't know was why.
Now we know.
The analysts cut their estimates because a Facebook executive who knew the business was weak told them to.
Put differently, the company basically pre-announced that its second quarter would...
The Shocking Story of What Really Happened Inside Facebook's IPO originally appeared on DailyFinance.com on 2012-05-24T14:20:00Z.
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