The Truth About The 'Facebook Halts Trading' Report That Suggests A Facebook IPO Filing Is Coming Soon

Facebook employees with gunsSmith (holding the gun on the right) is locked and loaded for Facebook!

Photo: Jim Migdal

Last night Bloomberg reported that Facebook has halted trading of its shares on secondary markets. This whipped people into a Facebook IPO frenzy.

Then, this morning Fortune is reporting that Facebook shares auctions are proceeding like normal on secondary markets. 

What’s actually going on?

According to reporters on all sides, agreements and contracts are still being drawn up between buyers and sellers on secondary markets, but Facebook’s law firm, Fenwick & West, won’t sign off on them for the next three days for whatever reason.

This reason could be an IPO filing or it could be something as routine as a “shareholder audit,” which Facebook has done before.

In short: we don’t know any more about when Facebook’s IPO will come than we did 16 hours ago. 

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

facebook sai-us