I don't have insight into it but this sounds to me like the underwriters making excuses for a "poor performing" IPO.
I have no idea which way FB will head on Monday but am pretty sceptical that this is at all relevant to their 1st day performance. I wouldn't base optimism specifically on the viewpoint
I had a limit buy order at $45 which I placed at 11am (when it opened) which was never filled (and should have been, as the price never went above $43 or so). There were definite trading glitches, and if they were skewed on the buy side, that could definitely have affected the price.
EDIT: Actually, the order did go through (annoyingly, at $42). The delay was just in the reporting. So never mind.
Comments
I don't have insight into it but this sounds to me like the underwriters making excuses for a "poor performing" IPO.
I have no idea which way FB will head on Monday but am pretty sceptical that this is at all relevant to their 1st day performance. I wouldn't base optimism specifically on the viewpoint
I had a limit buy order at $45 which I placed at 11am (when it opened) which was never filled (and should have been, as the price never went above $43 or so). There were definite trading glitches, and if they were skewed on the buy side, that could definitely have affected the price.
EDIT: Actually, the order did go through (annoyingly, at $42). The delay was just in the reporting. So never mind.