Don Bright
Bright Trading, LLC
Registered: Oct 2001
Posts: 11698 |
05-22-12 07:16 PM
Quote from forsalenyc:
I'm sure I'm not the only trader who got a late fill on FB IPO at 1:50 est. I know shit happens from time to time in trading, but what NASDAQ did today was disgusting. I said 'disgraceful' in the title, but I'll take that back since there's no grace in trading to begin with. Nasdaq probably had this problem resolved much earlier than 1:50est, but faced a dilemma of distributing shares at $42 when FB was trading in the $38's.... What a cheap ass move to avoid lawsuit. And the fact that FB immediately tanked following distribution makes you wonder if they got involved in bringing the price back up near the opening print. Dirty Dirty Dirty......that's all I gotta say.
On the flip side, after waiting for 90 minutes or more, we had traders who had paid about $42.50 - and then later tried to cancel (with no reports back on either, the order or the cancel) - were given outs when the stock was back down to $38.00.
Gotta win sometimes, LOL.
Don
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Don Bright (not an alias)
Bright Trading, LLC
http://www.stocktrading.com
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