by Tom Taulli | June 8, 2012 1:00 pm
After the botched Facebook (NASDAQ:FB) IPO, Nasdaq (NASDAQ:NDAQ) has continued to make missteps. For example, the company has made an offer to provide $40 million in compensation for market makers (much of it will be in the form of discounts on trading). Yet the losses were likely over $200 million.
But at least today, the Nasdaq had some good news – that is, it snagged the listing for Kraft (NYSE:KFT). The change will occur on June 26.
Actually, the Nasdaq has shown success in taking away listings from the NYSE (NYSE:NYX) this year. Other big wins include Texas Instruments (NASDAQ:TXN), Western Digital (NASDAQ:WDC) and Analog Devices (NASDAQ:ADI).
Then again, the NYSE has taken away eight listings from the Nasdaq as well. And the exchange also has been getting aggressive with tech IPOs, which include offerings like Yelp (NYSE:YELP), Pandora (NYSE:P) and LinkedIn (NYSE:LNKD).
Despite all this, there are few differences between the NYSE and Nasdaq. So in the end, the market is vulnerable to price-cutting as the exchanges try to get market share.
Source URL: http://investorplace.com/2012/06/nasdaq-nabs-the-kraft-listing/
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