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If you look really hard at the numbers Facebook is worth 'just' $21bn (not $104bn)

If you look really hard at the numbers Facebook is worth ‘just’ $21bn (not $104bn)

By Paul Simons on May 23, 2012

According to the business press, Wall Street is full of recriminations over the Facebook IPO. Morgan Stanley, the lead underwriter, allegedly ignored downward revisions of forecasts from its own analysts during the roadshow pre-IPO. The top securities regulator in Massachusetts has issued a subpoena to Morgan Stanley as part of an investigation in to FB’s [...]

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