Yesterday discount travel website Kayak announced it’s putting off going public. In the UK, luxury jeweler Graff Diamonds has made a similar move, and today Formula One announced it’s shelving its IPO.
Some point to the Facebook stock flop as sign of a slowing tech sector. Meanwhile, employment growth for unskilled workers in the U.S. remains stalled.
After technical snafus on the NASDAQ market interfered with the launch of Facebook stock, there are reports the New York Stock Exhange reached out to Facebook to pick up their business.
The shareholder lawsuit against Facebook and its banking partners argues they made a "severe and pronounced reduction" to the company's revenue projects days before the initial offering but hid it from the public.
What did the Morgan Stanley know about Facebook, when did it know, and who did it tell? Shareholders prepare to sue the bank and Facebook over how the public offering of stock was handled.
The stock tanked 11 percent yesterday, and a technology glitch marred its first day of trading Friday. Some look at the disappointing debut and wonder if something's amiss generally in the tech sector.