Nasdaq to compensate Facebook investors
Facebook co-founder Mark Zukerberg is seen on a screen getting ready to ring the Nasdaq stock exchange opening bell in Times Square in New York, May 18, 2012. Nasdaq announced today it plans on compensating Facebook investors after a 30-minute glitch at the Facebook open.
This final note today, which comes with the observation that Facebook closed down another 3.8 percent today. You can now buy youself a slice of the company for just $25.87, a bit more than $12 off its initial public offering price.
I mention that as a way to tell you this: The Nasdaq said today it's going to start explaining how it's going to compensate people for the bungled Facebook IPO tomorrow. Losses to banks and trading firms are estimated at somewhere near $100 million. There was that 30-minute glitch at the Facebook open a couple of weeks ago.
Shares of Nasdaq itself, today, for what it's worth? Up 2 percent.