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Facebook may move shares to NYSE

Wednesday - 5/23/2012, 5:47pm  ET

By BARBARA ORTUTAY
AP Technology Writer

NEW YORK (AP) - Facebook is in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after a botched initial public offering on Friday, according to a person familiar with the matter.

The person spoke on the condition of anonymity because they were not authorized to speak publicly. Facebook's much-anticipated IPO was delayed by a half-hour on Friday because of glitches on the Nasdaq.

After pricing at $38, Facebook's stock closed up 23 cents on Friday and has been down since. On Wednesday, it closed up $1, at $32, still down nearly 16 percent from the IPO price.

The news was reported earlier by Reuters.

NYSE declined to comment. A Nasdaq spokesman did not immediately return a call for comment.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)