In addition to substantial IPO fees, the Facebook underwriters headed by Morgan Stanley made “a profit of about $100 million” through an options bet which benefits the banks when the IPO price is too high and the stock value plummets. (See “Morgan Stanley, Others Make Profit of $100 Million Stabilizing Facebook,” Gina Chon, Aaron Luchetti and Ryan Dezember, The Wall Street Journal). This profit comes at the expense of individual investors who buy the overpriced stock at or above its initial purchase price. On May 9th Facebook told its underwriting banks that its growth prospects were slowing down due to an increasing mobile user base.