Also in this playlist...
This transcript is automatically generated
-- highly anticipated FaceBook IPO one of the biggest.
-- -- -- it made its way out of the -- today what happened did NASDAQ dropped the ball Charlie Gasparino is here offices with the latest sort of stumbled -- I don't know I didn't -- -- I didn't look at it wasn't Armageddon but it was pretty it was -- look pretty good at -- we should point -- couple things that -- -- because you know we were here in this and we check in and out.
Traders were telling us people at rival exchanges were telling us that NASDAQ was.
Having problems of which sort of figuring out how to deal.
With what they believe would be a massive amounts.
Retail order flow we did.
Ask the question because this was bounce around the market as pure speculation.
That met NASDAQ had put a moratorium on retail orders OK but apparently it's against the law and NASDAQ tonight -- they didn't do it.
But whatever was going on something was happening to -- order -- and we saw.
The sort of manifestation of that early this morning where you know there's all sorts -- technical reasons people talk about you know communication system down bottom line is.
We couldn't handle and that's going to be a huge problem for NASDAQ.
And for FaceBook for picking NASDAQ we should point out that this.
If this is the way closes today and a lot of people talking about a treating range in this area -- this is not a very good opening for -- we're talking still well.
I think the problem was this no I don't think -- price Evans from with a price to confront problems when they.
Increased in the supply I mean they they -- the they upped the ante on right thing where they increased amount of shares and that was a problem.
Outdated on the -- -- I was hearing people talking about fifty dollars a share.
We are like way below that -- who knows we always criticized when the share price pops because -- -- original investors left a lot of money in the table is it's not a desirable resort Atlantic coast 200 on the first day gay isn't over yet we should point out simply this.
This the stock should be trading much higher than this -- on the Reuters.
JPMorgan Morgan Stanley Goldman RP.
To our price in demand and allow for a certain -- certain bump.
This is not the certain bump we look for kind of interesting to note we did put in -- call to FaceBook -- -- that they were happy with the way.
NASDAQ handled the the opening and their comment was no comment.
It acts as at all -- -- so little friction there between NASDAQ and FaceBook.
Little note to Mark Zuckerberg than Bob -- -- You know humans sometimes work better than computers.
Uglier by doctor Celeste now maybe we should look at -- we're facility and we think I ST I -- -- Yeah.
You -- again I still ask this question guys yeah why do I need to see my high school pictures of my high school go before I don't.
-- -- we we just ridiculed and not cool enough I don't know -- -- -- market that's that we're not I hear the kids are getting sick of it I have now -- eyes on it can't get in Israel by both -- are down 41 -- -- little hello Charlie what's the likelihood it just needs a couple of days to settle out.
Because of the overwhelming number of -- you might be right but then that talks about nasdaq's ability to handle it.
I mean -- gets back that was I don't know what this thing's gonna straight -- he would think it would go up dramatically.
This is this is a very I mean I was talking to some people Morgan Stanley.
They told me the retail demand was here.
What is retail the retail -- -- they weren't in on the IPO the lingering 38 dollar price there in afterwards if there's retail demand distinction pop significantly today this isn't the day's not over.
And people Morgan Stanley -- -- and they have a retail sales which they get tremendous retail demand -- which I've got to ask why.
Isn't higher maybe it'll go higher I still think.
You know I could do without I can't do without Google -- I don't -- -- -- for that this means world Charlie Gasparino thanks so much.
Filter by section