Nasdaq Debuts $100M Fat Cat Exchange

It would be funny, if it weren't so 'shameful': Paul Krugman

(NEWSER) - Paul Krugman has some choice words today for the titans of Wall Street, who can't seem to take a little criticism from the president. "It has, in a way, been funny to see how childish and thin-skinned the Masters of the Universe turn out to be," he writes in the New York Times . But given the mess that these bailed-out "spoiled brats" have caused, it's actually "shameful" that they're more concerned about their reputations than solutions. More»

Shares don't fare as well as expected

(NEWSER) - Facebook's big day is over, though its IPO didn't meet Wall Street's expectations. Some highlights:

• Rise and fall: Shares opened at $38, rose quickly to $42, then sank again to $38 before underwriters stepped in to keep the price up, reports the Wall Street Journal . Shares closed about where they started, at $38.23.
• Record day: Facebook broke the record for most shares traded in a day with more than 460 million. GM held the previous record with 458 million.
• Trading snafus: The heavy volume took a toll. Nasdaq is taking flak for communication glitches about orders, along with the 30-minute delay in the opening.
• Mark Zuckerberg: Curious how much richer he is? This widget to the rescue .

Company doesn't see expected 'pop'

(NEWSER) - Facebook has seen a mixed start to its IPO: Initially priced at $38 each , shares in the company quickly jumped about 11%, opening at $42. But things cooled off, and at one point in the first half-hour, shares were back down to about $38, notes the Wall Street Journal . They were hovering just under $40 around mid-day. More»

Trading opens at 11am ET

(NEWSER) - Facebook shares will go on sale at long last today, in the biggest tech IPO in US history—and Nasdaq is desperate to make sure nothing goes wrong. Facebook has set an initial price of $38 per share, meaning it will make some $16 billion on the sale. Trading will begin at 11am ET—an hour and a half after the rest of the market opens—to give brokers time to handle the deluge of orders, the Los Angeles Times reports. More»

Shares to be $28 to $35, putting value at $96B max

(NEWSER) - With Nasdaq trading likely to begin in weeks, Facebook has revealed pricing figures: It's planning to sell shares for between $28 and $35, which would put the company's value at $77 billion to $96 billion—the highest ever for a web firm during its IPO, the Wall Street Journal reports. The company could raise up to $13.6 billion, notes the Street . More»