This is no doubt a somewhat sensationalized story, but an interesting one nonetheless. Facebook went to market in a very volatile time, and often “quiet periods” in tech companies can still involve a lot of change. If you don’t think similar stories like this happen in most IPOs, you’re naïve.
The article is also a lesson on investing in individual stocks (you shouldn’t do it):
Uma Swaminathan tuned the television set in the living room of her ranch style home in the suburbs of East Brunswick, N.J. to CNBC. It was 9:00 a.m. on May 18, 2012, a day the retired schoolteacher thought might make her rich. She logged onto her Vanguard brokerage account on her computer and placed an order for 5,000 shares of Facebook at $42 a share.
I’ll let you guess how that turned out.