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May 23rd, 2012
06:43 AM ET

MYB: Facebook stock drops another 9% Tuesday

Did Facebook executives advise underwriters from Morgan Stanley to reduce revenue and earnings forecasts for the company before the IPO launched?

In today’s Minding Your Business, CNN's Felicia Taylor discusses Reuters' new report that Morgan Stanley is being subpoenaed by the Massachusetts Attorney General about the information analysts may have given to certain investors about Facebook’s revenue prospects.

Facebook investors are also facing problems this morning, with shares down about $30/share in pre-market trading . Overall, the social network's stock has dropped 19% since the IPO launched on Friday.

Filed under: Minding Your Business
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