Facebook recently added Etrade as an underwriter along with
usual suspects like Goldman Sachs, Morgan Stanley (lead underwriter),
Citigroup, J.P. Morgan, Bank of America, Wells Fargo, Barclays and Credit
Suisse and a whole host of smaller firms like Lazard and Muriel Siebert &
Co. Inc. (see all 33 names are here). Separately Charles Schwab and TD
Ameritrade will be able to grab shares for select clients but won’t be official
bookrunners.
For the newbie investor desperate to buy Facebook FB
0.00% at IPO, setting up an Etrade
account seems likely the only hope to get rich off that first day pop. I’m not going to opine here about the wisdom
of following the crowds but I’ve been emailing with lots of young people in the
last month asking the most basic of questions about the IPO process. Without
exception all of these kids use Facebook (duh) and are old enough to remember
Google’s IPO. And I expect that Etrade is signing up lots of new accounts with
the promise of a lottery ticket—a 50 share Facebook allocation...
Wait, wait...there's more at http://blogs.marketwatch.com/cody/2012/05/15/will-facebooks-ipo-make-e-trade-party-like-its-1999/
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