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Facebook + Nasdaq = Faceplant

By: capt_nemo in ROUND | Recommend this post (0)
Tue, 12 Jun 12 6:32 AM | 34 view(s)
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However big a cluster$uck you may have previously believed the Facebook IPO was, this WSJ article – Nasdaq CEO Lost Touch Amid Facebook Chaos — makes you realize it was actually worse, much worse.

The Journal politely but devastatingly skewers Nasdaq for the bungled IPO trading. The words that come to mind is inexcusable and incompetent. (No mention of HFT though)

That said, the train wreck most likely would not have happened had Facebook not been so wildly over valued at $104 billion dollars. That was what filled the warehouse with dangerous vapors, waiting for a spark.

Nasdaq’s snafu provided the igniter.

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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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