Report: NYSE Swoops In On Facebook In Attempt To Take Advantage Of Nasdaq Issues

The New York Stock Exchange pounced in an attempt to take advantage of rival exchange Nasdaq’s issues with Facebook’s initial public offering last Friday, with parent company NYSE Euronext reportedly in talks with the social network.

Reuters reported that Facebook is considering the stock-listing pitch, saying that the social network and NYSE Euronext declined comment, while Nasdaq was not immediately available for a reaction.

Nasdaq pledged earlier this week to set aside at least $13 million to pacify disgruntled traders and investors who are claiming financial losses due to the exchange’s technical glitches last Friday, which also led trading in Facebook stock to be delayed by a half-hour.

Nasdaq is not alone in having IPO-related difficulties, however, as Facebook and banks including Morgan Stanley are facing a lawsuit and an investigation over the IPO and actions that allegedly took place leading up to it.

Facebook shares closed trading Wednesday at $32 apiece, up $1 from Tuesday’s close, but down $6 from its IPO price of $38.

Image courtesy of Shutterstock.

Related Stories
Mediabistro Course

Content Marketing 101

Content Marketing 101Almost 60% of businesses use some form of content marketing. Starting December 8, get hands-on content marketing training in our online boot camp! Through an interactive series of webcasts, content and marketing experts will teach you how to create, distribute, and measure the success of your brand's content. Register now!