What effect did the NASDAQ's market "glitch" have on the bungled Facebook IPO? According to the academically popular efficient market hypothesis (EMH) developed by Nobel-prize winning economists, the answer is none. But that is probably wrong.
Going public and raising a boat load of cash doesn't guarantee success. As we all eagerly await Facebook's Initial Public Offering (IPO), I can't help but to think that history is going to repeat itself.
Yesterday, the markets received a first inkling of an IPO filing from Facebook. Facebook's law firm reportedly said that it would temporarily stop reviews on such secondary trades until next week. So Facebook's IPO may be imminent. Not that we can't be patient.