A total of 38.5 percent of the 421,233,615 Facebook shares purchased by underwriters prior to its initial public offering went to Morgan Stanley, while E*Trade, which had been touted as the best source of stock in the social network for individual investors, received only 0.05 percent of the shares, according to an amendment to Facebook’s S-1 filing with the Securities and Exchange Commission, filed after the close of trading Friday.
He (or she) who hesitates is lost when it comes to purchasing shares in Facebook’s initial public offering Friday, as several brokers have reportedly stopped accepting orders for the long-awaited stock.
Investment king Warren Buffett said Friday that he will not buy Facebook shares when the company’s initial public offering launches May 18. But what about average investors who want to get in on the action? Might E*Trade be able to come to their rescue?