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Facebook Nasdaq Listing Won’t Hurt the NYSE

Tech companies still see allure in New York Stock Exchange


The NASDAQ OMX Group (NASDAQ:NDAQ) got a nice win Thursday, reportedly landing the Facebook IPO for its Nasdaq exchange.

If true — if Facebook lists as NASDAQ:FB — the deal makes sense. The Nasdaq has been the traditional launching pad for emerging tech companies. Some of the iconic examples include Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Oracle (NASDAQ:ORCL) and Intel (NASDAQ:INTC).

Still, over the past year, the NYSE Euronext (NYSE:NYX) has been encroaching upon the Nasdaq’s turf, winning the listings for companies like Pandora (NYSE:P), LinkedIn (NYSE:LNKD) and Yelp (NYSE:YELP).

The NYSE also has had plenty of traction with new cloud operators, such as ExactTarget (NYSE:ET), Guidewire Software (NYSE:GWRE) and Millennial Media (NYSE:MM), and also hosts entrenched (NYSE:CRM).

At the end of the day, the New York Stock Exchange still holds a great deal of prestige around the globe and remains a symbol that a company is legit. That kind of clout will remain attractive to early-stage companies — especially those trying to snag large, established customers.

So while the Nasdaq might have gained the Facebook listing fees, don’t expect techs to give up on the NYSE anytime soon.

Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “The Complete M&A Handbook”“All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli or reach him via email. As of this writing, he did not own a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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