NYSE STOCK SOARS 25% AFTER IT GOES PUBLIC FOR FIRST TIME IN 214 YEARS
The New York Stock Exchange, the largest equity market in the world, traded its own shares Wednesday morning for the first time in 214 years as a not-for-profit private venture.
Ref. https://www.cbc.ca/story/business/national/...yse-060308.html
Key: NYSE, Stocks
To me, this makes no sense. Trading yourself on yourself? Just another money making scheme from people who have money, plotting to take from those who don't and in this case, some that do. It also makes the market look better than it is by creating a stock for a company that just trades stock.
The New York Stock Exchange will reopen Wednesday after being closed for 2 days due to superstorm Sandy.
The New York Stock Exchange's parent, NYSE Euronext, has agreed to be acquired by the rival Intercontinental Exchange in a cash and stock deal reportedly worth $8.2 billion. If approved by regulators, the merger would end two centuries of independence for the NYSE, the world's best known stock exchange. Ref. USAToday