For once the small investor was spared. We didn't buy into the hype and bullshit. The whole sorry episode began to unravel when General Motors announced they're done with social media and would pull all future Facebook advertising... not exactly an account FB wanted to lose just a few days before going public.
But their bankers were undaunted. In all its magnificent hubris, lead underwriter Morgan Stanley priced the IPO way too high and Nasdaq totally bungled the initial trading volume. Both entities will suffer greatly as the securities industry reels from endless scandals.
And Facebook stock goes down every day.