Facebook co-founder Mark Zuckerberg, 28, married his longtime girlfriend, Priscilla Chan, in a secret ceremony at their $7 million Palo Alto, CA home on Saturday — one day after his Facebook IPO made him $10 billion dollars richer.
But the Zuckerbergs’ honeymoon is already over.
Just 2 days after Facebook’s Wall Street underwriters scrambled to purchase over 300 million shares to keep Facebook’s IPO afloat at $38, the stock opened 2 percent lower in pre-market trading this morning.
The social network made history with it’s initial public offering on Friday, but Morgan Stanley, Facebook’s chief underwriter, was forced to buy millions of shares to keep the stock at it’s opening price. While that type of stock manipulation may sound illegal, it is perfectly legal according to Wall Street analysts.
Now there are new concerns that Facebook stocks will start trading at below it’s IPO value when the bell rings on Wall Street at 9:30 a.m. If that happens, small time investors who purchased the stock on Friday will lose big.
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