May 18, 2012

Facebook IPO Delay

I'm waiting like the rest of you for the Facebook IPO. There is speculation that there's too much volume for Nasdaq to handle? You tell me.

Anyway, I'm excitedly sitting here anticipating the opening price. This will be one for the history books! Good luck to you!

Update 8:30AM
According to the WSJ

"Traders said they were having trouble changing or canceling orders they had submitted to Nasdaq’s queue starting at 7:30 a.m. Traders said the orders were accepted normally, but the usual process for canceling or altering an order wasn’t accepted, suggesting problems with the queue. One trader said it wasn’t surprising given the number of institutions involved, but signaled reasons why trading was delayed. A representative for Nasdaq wasn’t immediately available for comment."

This morning, I ran into issues canceling an open order. It took several minutes for the order to finally go through, which could mean that there is so much retail demand that Nasdaq is having issues meeting the demand.

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