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In this image provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the opening bell of the Nasdaq stock market, Friday, May 18, 2012, from Facebook headquarters in Menlo Park, Calif. The social media company priced its IPO at $38 per share.
In this image provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the opening bell of the Nasdaq stock market, Friday, May 18, 2012, from Facebook headquarters in Menlo Park, Calif. The social media company priced its IPO at $38 per share.
(Zef Nikolla/AP Photo/Nasdaq via Facebook)

One year on, Facebook’s IPO flop explained

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The social nightmare
It all began with a Hollywood-style road show and high hopes. But when Facebook's bullish internal revenue forecasts were revised downward – and hidden from investors – the wheels began to come off the IPO juggernaut. The Atlantic’s Khadeeja Safdar chronicles the bankers and fund managers who made off like bandits, and the retail investors who got caught up in the frenzy and lived to regret it.