Facebook Could Switch From NASDAQ To NYSE

So as the path to going public hasn't gone as well as the company had hoped, the social network Facebook has embarked on a different direction - destination, NYSE. In the wake of the disastrous NASDAQ mishap, the New York Stork Exchange has kindly stepped in to help allay the mess - after Facebook sat through a pitch about a potential stock listing with its new 'ally'.

However, it doesn't seem as if the two will be best buds as of yet - with reports of the talks as false.

"There have been no discussions with Facebook regarding switching their listing in light of the events of the last week, nor do we think a discussion along those lines would be appropriate at this time," Robert Rendine, an NYSE Euronext spokesman, stated in an email.

No comments were offered by both Facebook and NASDAQ.

Despite no such further action being taken upon switching to NYSE, Facebook shouldn't be put off by undertaking a new move. Viacom famously changed tracks from NYSE to NASDAQ in November 2011, in order to save fees.

However, Facebook should really think about its next move soon - as yesterday saw its stock drop 15.9 per cent from its Friday IPO price of $38.

Source: Mashable