Facebook To Trade On Nasdaq With 'FB' Ticker: Report

As Facebook's initial public offering approaches, it appears that Nasdaq has beaten out the New York Stock Exchange as the listing destination for the stock, which will trade under the "FB" ticker.

As Facebook’s initial public offering approaches, it appears that Nasdaq has beaten out the New York Stock Exchange as the listing destination for the stock, which will trade under the “FB” ticker.

CNBC reported that the social network had selected Nasdaq after weighing its option between the two stock exchanges.

Nasdaq has been associated more with Silicon Valley and the tech sector, while the NYSE is known more for traditional, blue-chip stocks, but CNBC pointed out that the NYSE has made inroads into Nasdaq territory by winning the listings for Internet companies including LinkedIn, Pandora, and Yelp.