Banking, finance, and taxes
Facebook Opts For NASDAQ IPO & Listing Over NYSE (FB, NDAQ, NYX)
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CNBC has reported that Facebook is choosing to list on the NASDAQ rather than on the NYSE. The move seems a better fit considering the history of technology and internet companies through time. We still understand that Facebook will keep its proposed “FB” stock ticker, which may add a little confusion over the listing exchange. Still, more NASDAQ companies have less than the four-letter tickers now and many NYSE stocks have four-letter tickers as well.
The move may seem like a coup for NASDAQ OMX Group Inc. (NASDAQ: NDAQ) and a loss for NYSE Euronext, Inc. (NYSE: NYX). Maybe it matters about the listing fees and the pride, but Facebook was not going be the end all be all for either exchange. There are quite literally thousands and thousands of companies listed between these two exchanges. Today is more about bragging rights than anything.
It is not as if Facebook was going to consider taking a BATS listing as the primary exchange after that SNAFU of an IPO.
JON C. OGG
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