Twitter why abandon the nasdaq select the nyse?

today Twitter again listed on important step:, rather than the nasdaq. Twitter will “TWTR” as the code on the New York stock exchange, is expected to be publicly listed in a few months later.

this is a major victory for the nyse, and for the nasdaq, is an unfortunate failure.

the nyse make no secret of their excitement:

“for the nyse, was a decisive victory. We thank the Twitter trust in nyse platform, and look forward to a long-term cooperation. “

this victory from not easy. The nyse and nasdaq technology stocks listed sites are popular for a long time fierce competition. Two years ago the nyse, real estate website median chose nasdaq. This time, the nasdaq turn to taste the bitter fruit.

the nasdaq to close to science and technology enterprise, “technology expert”, “all electronic trade”, in the past year, however, so troubled, even cause Facebook shares for delay, after repeated problems. Litigation with the nasdaq ended up to the SEC to pay a $10 million fine, and. so evaluation, chairman of the nasdaq: “too many people see its failures, too many people are hurt by it… (nasdaq) has become a nightmare. I can’t even quantify it brings embarrassment “.

in May last year Facebook after listed on nasdaq, starting from the next day share prices began falling, it took more than a year to return to their initial offering price. Twitter clearly don’t want to repeat, it even chose instead of Morgan Stanley, Goldman sachs as the main underwriter.

in terms of technology shares listed, nasdaq has greater advantage. In 2010, for example, there are 28 technology companies listed on nasdaq choice, only 20 choose New York, last year’s data, however, has been to prepare. In the first three quarters of this year to choose the nasdaq has 15 companies, select the nyse has 14. Including Yelp, Pandora, choice of Media Inc stars such as Internet companies are listed on the nyse, and nyse also successfully induce oracle from nasdaq switch to nyse. And choose the nyse Twitter, is definitely put down again on the balance of a heavy chip.