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Tags: Facebook | NYSE | nasdaq

Facebook May Move Stock to NYSE After Nasdaq Snafu

Wednesday, 23 May 2012 06:03 PM EDT

Facebook is in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after a botched initial public offering on Friday, according to a person familiar with the matter.

The person spoke on the condition of anonymity because they were not authorized to speak publicly. Facebook's much-anticipated IPO was delayed by a half-hour on Friday because of glitches on the Nasdaq.

After pricing at $38, Facebook's stock closed up 23 cents on Friday, sank 11 percent Monday and lost an additional 8.9 percent Tuesday. On Wednesday, it closed up $1, at $32, leaving the stock still down nearly 16 percent from the IPO price.

The news was reported earlier by Reuters.

NYSE declined to comment. A Nasdaq spokesman did not immediately return a call for comment.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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2012-03-23
Wednesday, 23 May 2012 06:03 PM
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