Photo: milkmit/Dylan Love
We’re sitting here waiting for the Facebook to price — an event that was supposed to happen at 11:00 AM — but it still hasn’t happened yet thanks to a delay at the NASDAQ.It’s not totally clear what’s going on yet, but it almost certainly ha something to do with the insane volume/retail interest in this offering.
It was known that this was going to be a very difficult IPO to open, as this is truly unprecedented in terms of interest.
That being said, in light of the BATS IPO failure earlier this year, and the general worries about the strength of our stock exchanges, this is not something you want to see.
UPDATE: According toWSJ: “traders having problems changing and cancelling orders of facebook ipo”
UPDATE II: As more evidence that
Our full coverage is here
More to come…
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