{UPDATE: Tuesday, 22 May 2012 – 2d story added}
Read on, to find out why.
(Oh, and please, dear reader, don’t make me spell it out why.)
And, as an interesting note aside, Mr. Zuckerberg was married yesterday.
Here’s wishing him and his bride all the best.
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Nasdaq ‘embarrassed’ over Facebook IPO
By Telis Demos in New York, May 20, 2012 10:12 pm
Bob Greifeld said on Sunday that the 20-minute delay in trading of Facebook’s $16bn offering on Friday had been caused by a millisecond systems blip due to the largest IPO auction “in the history of mankind”.
The exchange has found itself in the spotlight after Facebook failed to deliver a first-day “pop” to investors, instead almost falling below its issuing price of $38. The shares, having risen briefly, quickly fell away to close the day with a gain of just 0.6 per cent, at $38.23.
As a result of the trading delay, Nasdaq was left with a position in Facebook shares that it was forced to liquidate, according to its own rules, generating $10m for the group. It plans to use that money, plus potentially more, to resolve disputes related to 30m shares that may have received improper trades.
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