Citadel Got Clocked On Facebook's First Day Of Trading

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Photo: Milken Institute

UPDATE, CORRECTION:

Below we mischaracterized Kayla Tausche’s reporting on Citadel’s loss on Facebook.

It was not the fund, but Citadel’s retail facing arm — placing trades for retail clients — where the losses were felt.

This makes more sense, and makes it even more analagous to the losses experienced by broker Knight Citadel that was reported yesterday.

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ORIGINAL POST: Another big loser on Facebook’s first day of trading: Citadel.

CNBC’s Kayla Tausche just reported that the Chicago-based fund lost $30-$35 million, which is about the same amount as Knight Capital reported that it lost in an SEC filing filed yesterday.

We actually saw via Bloomberg, that Citadel was trading Facebook like crazy on its first day.

Now we know how rough that was for them.

To read about the similar loss at Knight Capital, see here >

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