Facebook’s public offering failed to be the moneymaker investors were hoping. “I got into this IPO to try to make money,” said Murli Gupta, a math professor at George Washington University. “I was hoping it would climb up high like some of the other hot IPOs, like Red Hat or Google.” After one week of trading, Facebook stock closed over 20% below its offering price. Shares have been hurt by trading glitches, complaints of too many shares offered at too high a price, and lawsuits alleging underwriters failed to share lowered earnings forecasts. Gupta sold his shares at a loss of $547.50. “There is no rule written anywhere that IPOs always go up,” said Mark Nicolussi, an engineer from Pennsylvania.
Jessica Altman will head the Health Insurance and Managed Care Committee.
Blackstone, iPipeline, Anthem, New York Life, LISI and Benefitfocus also have personnel change news.
A New York state producer will have to document every client interaction.
Sponsored by Cetera Financial Group
Do you know the difference between client experience and customer service? The answer is crucial.
Sponsored by T. Rowe Price Investment Services, Inc.
The “reflation trade” appears real, but risks are still elevated.
Sponsored by J.P. Morgan Asset Management
As retirement plan participants worry about running out of money, inflation, interest rates, and much more, plan sponsors look to your guiding hand to help ease fears and set participants on the course for success.
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