5.24.2012

The Only Winner in the Facebook Fiasco...

Though history might prove me wrong, I would venture a guess that there was only one real clear winner in the aftermath of the Facebook IPO fiasco (so long as you don't count the employees who cashed out early and often). The banks look bad, NASDAQ looks bad, the company looks bad, investors look bad. The regulators are getting involved due to the poor efforts of all of the above. Lawsuits are already being filed. In this carnage, who could possibly be a winner?

None other than the good old New York Stock Exchange. While representatives haven't said much publicly, you can bet that they will be very happy to tout the benefits of market makers and floor traders when the representatives of the next big name going public come around. Though it lost out on the biggest (by name and probably size) IPO of the year, the folks at the NYSE have to be happy with how it all turned out.

UPDATE: After I wrote this, it came to my attention that NYSE might be looking to capitalize on the NASDAQ fiaso even before the next big name going public comes around...Bloomberg has the details here.

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