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-- that about nine minutes before the hour FaceBook shares hit a new low of 26 dollars even there just slightly up off that level but after the FaceBook IPO.
Some might even quality -- baffled by the NASDAQ could detect exchange be ready to make a major announcement tomorrow.
In the wake of what happened with FaceBook Charlie Gasparino exclusive breaking details right now well -- On the settlements with some of the market places that they lost money.
Because nasdaq's on the floor of the that's the best way to put -- flow of the opening of the NASA and the FaceBook IPO couple weeks ago remember people could get their orders filled when they did -- -- -- They've -- you know what's price they were by not.
Bottom line is there's all these market participants saying that they lost money in this these are average people these firms -- deal with average people.
Knight securities have lost something like 3535.
Million the end -- -- at 12100 million to number that we first sighted on the Fox Business Network.
But what market participants are saying is that tomorrow NASDAQ is gonna make some announcement regarding settlement now what -- what -- speculation is and like I said NASDAQ.
Refuses to address this which appointment of Bob -- -- Is going to give his first public comments.
Thursday on this matter -- the speculation is -- gonna pay more than the thirteen million deck right field is initially said the set aside for this that there's going to be some additional payments made.
We hear purely on -- speculative basis it's between thirteen maybe as high as thirty it's clearly not.
The full Monty that everybody wants but we should point out that some -- what we year to specifically.
Is that some settlement number some some sort of announcement.
We meet tomorrow what what did what people are saying this.
They wanna get this out of the way before -- filled makes this his first public conference first public comments on the matter that's at this Sandler O'Neill conference on Thursday.
We -- we we will be there covering it live blogging it you name it and you know minute we're gonna we're gonna we're gonna let our viewers here what's going -- This is a huge stories lose because is a story about the average investor and the average investor.
Is the one that really took on the -- on this on this they've put in orders they know they got unfilled but -- -- filled -- at what price they got on.
This was a nasty thing gripe -- has been under tremendous pressure -- some people say.
You know he should go a lot people in the markets because how can you -- The biggest oil for the world we have set -- -- liquidate just like a -- Good one of the huge trading operation he says he said he said he can't understand why they didn't just -- trading yes it would look bad it would look.
Like you know he's doing but it's better.
And -- -- -- and then that's what happened here was a market the Pasco.
Is it fair to say to that at this point now immediately -- about my time it was you look at.
My name is it fair to say that that in essence though the problem does come down to the types of what happened vs.
FaceBook now that the dust to settle did exactly what it was supposed to do it put out there at the news that it might not be making as much money is expected because of they're their situation with mobile so they put that in the prospectus -- was out there.
So in the -- Real problem was the plumbing of -- -- I think I think everything was the probably regret his -- deserve a lot of blame yes absolutely he.
And when you put that much -- of controversy and and uncertainty into into an IPOs were seen opening something like this don't people step back and say what what is thing really worth.
And I'll -- it I think the on the right -- -- -- had a right you know.
That -- yet everybody's revising their forecasts down and what do you do you all the the size of the deal and what do you do you give the direct guidance to your best customers.
Yeah and every average investors be that the -- prospectus -- the up the the deal offering document.
Which he didn't say like turn to page 53 learn about these and risk it just very -- -- up again copy -- -- -- well I bring you figure I remain got quite a hold your hand and that's why you watch shows you read you read you read the papers but I will tell you.
Clearly two different types of got eight it is sort of an irony isn't it.
That the smartest guys in the room get the most guidance.
And the people that need the guidance don't get any guidance is ever of us is -- that is that an irony.
That's why Woolsey I tell everybody when the deal Wall Street it's not corrupt it's not a corrupt organization.
It's a bare knuckle you know sharp -- place you gotta be educated you gotta understand and by the way yes you -- read up.
You know hundred gotta watch us.
Yeah he looked fine mark my -- I don't like child to list with a fine.
Charlie -- rid of those states -- -- it against him when he's got the phones cradled in one of those errors in out thank you Charlie very much.
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