A mysterious glitch halted trading on the Nasdaq for three hours Thursday in the latest major electronic breakdown on Wall Street, embarrassing the stock exchange that hosts the biggest names in technology, including Apple and Google.
Tesla will be joining the Nasdaq-100 Index on Monday as software maker Oracle Corp. heads to the New York Stock Exchange.
Nasdaq has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook’s public stock offering last year.
Apple needs to come down off its perch and start making nice with Wall Street, analysts said Thursday as investors hammered the company’s stock. The sell-off put Apple a hair’s-breadth away from losing its status as the world’s most valuable company.
Facebook’s beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.
Facebook’s stock fell to $19 for the first time on Friday, meaning it has lost half its market value since the company’s initial public offering in May.
The stock increased $1.40, or 4.7 percent, to close Monday at $31.41. That’s still down 17 percent from Facebook’s IPO price of $38. Facebook began trading on May 18.
The Nasdaq stock exchange tried to make amends with investors ensnared by technical problems on the day Facebook went public.
Morgan Stanley, the lead investment bank in Facebook’s troubled initial public offering, will compensate investors who overpaid when they bought Facebook’s stock in Friday’s IPO, according to a source familiar with the matter.
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.