Curiouser and curioser:
Morgan Stanley, the lead investment bank in Facebook’s troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook’s stock in Friday’s IPO, according to a source familiar with the matter.
The person said the firm is reviewing orders its retail clients placed for Facebook stock, and will make price adjustments if the clients paid too much. The person spoke on condition of anonymity because they were not authorized to discuss the matter publicly.
The person did not say what amount constituted overpaying for Facebook’s stock.
Daring financial wizards willing to take risks in the market, indeed.