JSFiddle - React, Tailwind, and code Playground
by linmic
HTML
<div class="outer">
<img src="http://icons.iconarchive.com/icons/double-j-design/blueprint-social/128/blogger-icon.png">
<div class="inner">(CNN) -- Facebook's IPO was all the rage Friday. Retail investors -- people like you, me and our neighbors -- flocked to the offering in hopes of returning to those glory days when a dramatic rise in stock price was a given.
But, alas, like so many recent IPOs, Facebook languished near its offering price on its first day and dropped on subsequent days of trading.
It could have been worse.
Disgruntled investors had ample opportunity to sell Friday afternoon once technical issues at Nasdaq were resolved. Those who chose to sell did so at a profit.
David Wessels
Investors in some other IPOs never have the chance to recoup what they put in. For example, PetroLogistics, a company that owns the world's largest propane processing plant, began trading below its offering price in early May. Nearly a month later, the stock still trades below what original investors paid.
So if profits aren't guaranteed, why the uproar over Facebook's IPO? Because an analyst at Morgan Stanley, the investment bank which set the offering price, released a report lowering the financial forecast for the company just before the offering. Angry stockholders allege the report was released only to a select circle of institutional investors, who then headed for the door. Consequently, most investors were left to shoulder the loss.
Why is Facebook being sued? CNN Explains: IPOs
If this feels unfair to you, you're not alone. After all, why should you have to lose out?
After the dot-com crash, WorldCom and Enron, Congress included provisions in the much maligned Sarbanes-Oxley legislation to address potential conflicts of interest. Among other things, the bill led to a so-called "Chinese Wall" separating communication between investment bank research analysts and underwriters.
However last month a bipartisan bill, innocuously named the JOBS Act, rolled...
CSS
.outer {
display: block;
position: relative;
padding: 0 128px;
}
.outer > img {
position: absolute;
}
.outer > img:first-child {
position: absolute;
left: 0;
top: 0;
}
.outer > img:last-child {
position: absolute;
right: 0;
top: 0;
}