Traders Sell Nasdaq (NDAQ) Shares as Facebook IPO Didn't Go So Well
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Shares of Nasdaq (Nasdaq: NDAQ) are bouncing modestly off session lows heading into the last few hours of trading Friday. The stock started dipping right around 11am ET, just as the Facebook (Nasdaq: FB) IPO was expected to begin trading, but didn't. The company said it was having issues with traders changing or cancelling orders upon the delayed open. Traders also indicated problems getting trading reports.
Nasdaq shares fell about 6 percent over a two hour span (shares were up about 2 percent ahead of the Facebook open), but are now trading down around 2 percent to $22.53.
Also notably, shares of NYSE Euronext (NYSE: NYX) ticked slightly higher as the issues at the Nasdaq exchange unfolded. NYSE Euronext shares are up about 0.4 percent to $24.62 at last check.
Nasdaq shares fell about 6 percent over a two hour span (shares were up about 2 percent ahead of the Facebook open), but are now trading down around 2 percent to $22.53.
Also notably, shares of NYSE Euronext (NYSE: NYX) ticked slightly higher as the issues at the Nasdaq exchange unfolded. NYSE Euronext shares are up about 0.4 percent to $24.62 at last check.
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