NEW YORK – When Facebook goes public in a few months, will its stock appear on the New York Stock Exchange or the Nasdaq? Depends what its billionaire founder prefers for a backdrop — a trading floor on Wall Street or towering video screens in Times Square.
“Basically, it depends on where Mark Zuckerberg wants to get his picture taken,” says Larry Tabb, the founder of the Tabb Group, a market research and advisory company.
Beyond that, it doesn’t matter much. When a company signs up with the Nasdaq, its stock still trades on the NYSE, and NYSE-listed companies trade on the Nasdaq. In fact, more NYSE-listed stocks trade on the Nasdaq than on their home exchange, according to the Nasdaq.
The obvious difference between the two is image.
Nasdaq still has the upstart reputation. The home of Apple, Amazon.com and Google came of age in the late 1990s, when day traders banked on dot-com stocks turning them into millionaires overnight.
The NYSE is the stately symbol of the financial markets at Wall and Broad streets. The exchange dates to 1792, when 24 brokers and merchants gathered to trade stocks under a sycamore tree near its present home.
Its origins can be traced back even further.
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