Sunday, August 19, 2012

And Now Facebook's Bankers Are Divvying Up The $100 Million They Made Shorting Facebook's Stock - Business Insider

Wall Street business as usual
"Right now, reports Lynn Cowan of the Wall Street Journal, while Facebook investors digest the fact that the stock has now dropped to $19 from an IPO price of $38, Facebook's bankers are divvying up another $100 million they made on the Facebook stock, this time in a much less visible fashion.
How did the bankers make this second bonanza?
By shorting Facebook's stock.
By, in other words, selling Facebook stock they didn't own and then cashing in when the price dropped."
And Now Facebook's Bankers Are Divvying Up The $100 Million They Made Shorting Facebook's Stock - Business Insider
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