Facebook Reportedly Looking To Move Stock To NYSE After Botched IPO
NEW YORK (CBS/AP) — 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 and has been down since. On Wednesday, it closed up $1, at $32, 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.
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