A series of embarrassing technical glitches on the Nasdaq that basically made Facebook look like a bunch of rank amateurs on their very first day of trading is now being citied as the reason the social giant may soon be moving their business to rival exchange New York Stock Exchange or NYSE.
NYSE officials courted Facebook after news of a planned IPO got out – but Zuckerberg insisted on being placed on the tech savvy Nasdaq and now after a fail-of-all-fails on the part of Nasdaq, Facebook is now saying they are open to engage in the discussion of saying “mmm bye bye” Nasdaq.
Nasdaq Exchange is blamed for a major series of setbacks after the exchange’s computer systems were unable to keep up with Facebook orders, causing a sorta Slurpee brain freeze.
Experts contend that if Facebook wanted to make the switch the mechanics behind a listings would not be so complicated.
“It’s not hard [to switch listings],” says David Wield, a former Nasdaq vice chairman who oversaw the exchange’s global listings business. “Both firms [NYSE and Nasdaq] handle this sort of things all the time.”
At the end of the day I can’t say that FB moving is such a bad idea, I mean those Nasdaq fools really dropped the ball. Mark should distance himself from the stench while causing a firestorm of media… I think they call that a “win win” hint hint.