Nasdaq CEO Robert Greifeld has said the stock exchange is "humbly embarrassed" by its bungling of Facebook's
hugely anticipated debut as a
public company on May 18.
Greifeld told the media there's no indication the delay contributed to the
underwhelming performance of Facebook's stock, which ended at $38.23 - 23 cents above where it began.
He called the social network's first day of trading "successful." According to reports, the Nasdaq CEO said late order cancellations caused a glitch.
Technical glitches at the Nasdaq Stock Market delayed the trading of Facebook's stock by half an hour. The stock, which was expected to start trading at 11 am, opened at 11:32 a.m. at $42.05 and ended the day at $38.23.
Nasdaq's board met on Saturday and plans to change its IPO auction process.
The Securities and Exchange Commission is also looking into the glitches in the trading of Facebook's initial public offering.
The glitches caused traders problems changing and canceling their orders. Some investors who thought they had bought Facebook shares at the opening of trading were left without knowing for hours whether they had received the shares.
Special 
