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Technology Stocks : Renren

RENN 1.650

-2.9%

Jun 21 5:00 PM EST

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From: zax	5/22/2012 7:43:08 PM
	of 310

Facebook IPO: Two Top Financial Regulators To Review Issues Surrounding Initial Public Offering huffingtonpost.com Excerpt: With Facebook shares all but impossible to sell short, investors have sought out almost any related vehicle to bet against the social network. Over the past three trading days, prices plunged on two closed-end funds that owned pre-IPO shares. Firsthand Technology Value Fund and GSV Capital Corp both dropped more than 25 percent even though their Facebook holdings make up only a small fraction of assets. "Until investors can actually short Facebook, they have to keep shorting other things that can give them some sort of proxy for Facebook," said Thomas Vandeventer, manager of the Tocqueville Opportunity Fund, which owns shares of both the battered closed-end funds.

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