The Google Trade Screwup
from the yeah,-yeah,-we-know-about-the-IPO dept
Since everyone else is writing about the IPO there didn’t seem to be much to add. However, there was one funky thing that I was surprised didn’t get much more attention. When I first got to the computer in the morning, I checked to see what the Google share price was actually at… and the last trade showed a price of $135, which seemed quite surprising. Underneath it, though, there was a quick note from the NASDAQ saying that two trades had accidentally been posted prior to trading in the shares. Of course, a few minutes later, the shares started trading for real, and everyone forgot about the accidental trades. Now, in the aftermath, the NY Post has a short story noting how the NASDAQ screwed up, if only briefly. Of course, the NYSE was only thrilled to use this as a reason why you should trade there instead of on the NASDAQ.