You've got to hand it to the guys at Morgan Stanley, Goldman Sachs and JPMorgan who have been running the Facebook initial public offering .
They've orchestrated a nearly perfect IPO performance.
The huge public roadshow performances. The price targets that keep moving higher as we get closer to the Facebook IPO . Leaks that even the new targets may be too low. The size of the IPO growing 25 percent . Even a reminder that new market rules restrict so-called "market orders" — basically, instructions to your broker to buy Facebook shares at any price necessary — paints a picture of a feeding frenzy for the stock.
That picture would be largely accurate.
One financial adviser at a major Wall Street brokerage told me that his retail clients “won’t take no for an answer” when it comes to Facebook. He’s been telling them to stay away from the stock for the first few weeks of trading, but many of his clients insist on placing orders to buy on the first day.
“Interest is very high. We expect a lot of orders at the open,” a financial advisor at one of the biggest U.S. brokerages said.Page 1 of 4 | Next Page