Sparked by a disastrous open day of trading, scratches on the surface (about valuation, growth, long-term viability, competition, and price) became gaping wounds. Smelling blood in the water, sellers poured in, and when underwriters were unable to hold the stock above the $38 issue price, everything went to pieces.
In the following weeks Facebook shares plummeted 20 percent, sparking a massive fallout among investors large and small, and entangling Facebook, Nasdaq, and the 33 banks that led the deal into what has become one of the highest profile legal and financial battles in tech history.
Wednesday marked 40 days since Zuckerberg rang that opening bell — an important date both psychologically and legally (it was the first time Facebook’s bankers could publish research publicly) for everyone involved .
So how did we get to this point? And where do we go from here? Watch the video below for CNBC’s Kayla Tausche, Kate Kelly, and Julia Boorstin's insights on the roller-coast ride that was Facebook’s road to going public.
-By CNBC's Kayla Tausche, Kate Kelly, Julia Boorstin and Jesse BergmanPage 2 of 2 | Prev Page