MONEYWATCH
Facebook IPO: Trading glitch sullies Nasdaq
May 18, 2012
May 18, 2012
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(MoneyWatch) As grand entrances go, this one hit a banana peel.
Investors, journalists, and presumably Facebook (FB) CEO Mark Zuckerberg were excitedly waiting for the social network's blockbuster initial public offering this morning and then... nothing. A glitch delayed the IPO by nearly 30 minutes, amid reports that traders were having problems placing orders for the company' stock.
The Wall Street Journal reported that Nasdaq OMX (NDAQ), which runs the high-tech stock exchange on which Facebook shares debuted, was investigating the cause of the delay. Traders and brokers also had difficulty changing or canceling their orders, according to the paper.
Investors, journalists, and presumably Facebook (FB) CEO Mark Zuckerberg were excitedly waiting for the social network's blockbuster initial public offering this morning and then... nothing. A glitch delayed the IPO by nearly 30 minutes, amid reports that traders were having problems placing orders for the company' stock.
The Wall Street Journal reported that Nasdaq OMX (NDAQ), which runs the high-tech stock exchange on which Facebook shares debuted, was investigating the cause of the delay. Traders and brokers also had difficulty changing or canceling their orders, according to the paper.
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