On May 18, 2012, the social networking company, Facebook, Inc. held its initial public offering. It was one of the biggest, most anticipated offerings in history – with a whopping peak market capitalization of more than $104 billion.
Investors were practically offering up their firstborns to get in on the action. Robert Greifeld, the CEO of NASDAQ flew out to the company's Menlo Park headquarters, and chucked the suit and tie for a more "Silicon Valley look" so that he could be there in person for the historic moment when Facebook's Founder and CEO Mark Zuckerberg rang the opening bell.
And then – almost immediately there were problems - big problems. It was one of the biggest debacles in Wall Street's history.