Facebook (FB) Stock Woes: FB Slips as the Company Decides to Stay on NASDAQ, and Users Brace for New Changes
Facebook (FB) shares fell 0.29% on Friday to close at $31.09%, as the company announced its executives have decided to keep FB listed on the NASDAQ stock market.
The social network executives said they’ll stick with NASDAQ, despite investors’ frustration with the exchange largely viewed as the culprit in the company’s botched May 18 IPO.
NASDAQ said it will pay brokers $40 million, after they said they had experienced loses due to orders that the exchange failed to process. NASDAQ failed to process 12 million trades, delayed by "glitches en masse,” the day of Facebook’s debut -- prompting investors' complaints and the stock’s fall.
In the meantime, Facebook users who are still upset about the social network’s sudden change of the emails addresses listed on the users’ profile, are bracing for more changes. Different data, such as favorite books and even some messages, could go be lost as Facebook deals with mobile users who synchronize their devices' addresses books with their Facebook contacts.
The new glitch adds to Facebook users’ woes, as last week they learned the company changed the e-mail addresses displayed on their "Timeline" pages to a @Facebook.com e-mail address without disclosure or announcements (though the company claims the change was notified on an April press release). However, the impasse highlights the social network’s delicate balancing act between pleasing its investors and further annoy its growing -- and crucial -- mobile audience.