Facebook went public

When Facebook went public in May, investors went nuts getting their hands on shares of the hottest tech IPO in history.

Unfortunately, Facebook stock value quickly plummeted from an IPO price of $38.23 down to the mid-twenties, even dropping to under $18 at one point, causing thousands of hasty investors to lose huge chucks of change.

Falling share prices wasn’t the only problem to emerge from the Facebook IPO, either. A NASDAQ trading glitch within the first few hours of the IPO caused incorrect trades to be placed, resulting in major losses for some big investors.

Morgan Stanley (the underwriter for these faulty trades), along with the NASDAQ, are currently facing lawsuits as a result.