The Senate Banking Committee is holding a hearing today into whether the IPO process is working for ordinary investors. At issue is whether regulators can level the playing field for big and small investors.
Published reports today suggest NASDAQ is working on a plan to compensate brokerages that lost perhaps $100 million when software fouled up the start of trading in Facebook's IPO last month.
Yesterday discount travel website Kayak announced it’s putting off going public. In the UK, luxury jeweler Graff Diamonds has made a similar move, and today Formula One announced it’s shelving its IPO.
Some point to the Facebook stock flop as sign of a slowing tech sector. Meanwhile, employment growth for unskilled workers in the U.S. remains stalled.
After technical snafus on the NASDAQ market interfered with the launch of Facebook stock, there are reports the New York Stock Exhange reached out to Facebook to pick up their business.