Twitter selects NYSE to host IPO, shuns Nasdaq

Share on Facebook Tweet Snapchat Share Reddit Comment
Twitter selects NYSE to host IPO, shuns Nasdaq
Twitter has chosen to trade on the New York Stock Exchange, shunning the rival Nasdaq market which is home to some of the biggest names in the tech sector.

The Nasdaq, the only all-electronic exchange since it was founded in 1971, has long been seen as the "new economy" market and has sought to contrast itself with the more traditional New York Stock Exchange.

According to the research firm Dealogic, some 260 companies in tech were introduced on the Nasdaq between 2001 and 2010, compared with 63 for NYSE.

But since 2010, NYSE has been almost even, with 55 companies quoted, including key names like LinkedIn, Yelp and Pandora Media. Some 61 have been introduced on Nasdaq in that time.

For most investors, the exchange has little importance since they can buy or sell on a variety of platforms easily on either exchange. But the stakes are higher for the exchanges.

The Nasdaq remains home to the biggest tech firms, including Apple, Google and Microsoft. But NYSE scored a win this year by getting software giant Oracle.

Nasdaq got a black eye with last year's Facebook IPO, marred by technical glitches which halted trade and let to lawsuits.But NYSE has seen its share of technical problems as well.

But NYSE did a simulation on October 26 in a bid to ensure the Twitter debut would run smoothly.

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and subscribe to our YouTube channel.

European spy agencies swap news on latest technology developments: Germany
HUDWAY app helps motorists in low-visibility conditions with aid on windshield

Related Stories

 
 

Advertisement

 

Advertisement

© Copyright Red Pixels Ventures Limited 2020. All rights reserved.