A year ago today, CEO Mark Zuckerberg "rang the bell" to open trading in one of the most hotly-anticipated initial public offerings in history as Facebook hit the stock market. And promptly went splat.
In yet another financial PR blow, Facebook's revenue estimates from analysts at eMarketer have dropped to around $5 billion for 2012. Previously, the firm forecast revenues of $6 billion for the year.
William Galvin, Secretary of Commonwealth for Massachusetts, is subpoenaing Facebook investor Morgan Stanley, Reuters reports.
“The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst’s discussion with certain institutional investors about the revenue prospects …