Nasdaq Can Kiss Twitter Goodbye

NEW YORK ( TheStreet) -- Nasdaq OMX Group ( NDAQ) has had a rough go of it in the past 18 months. First the Facebook ( FB) IPO debacle. Now, the trading glitches Thursday that caused Nasdaq-listed equities and options to stop trading until 3:25 P.M. As Twitter gets set to go public, the chances of the Nasdaq getting the listing are slim.

In a report earlier this week in the New York Post, Twitter reportedly wants a "low-profile" IPO. Given the nature of the company, its influence in social media and, more importantly, media in general, Twitter's initial public offering is likely to be anything but low-profile.

Twitter has helped lead revolutions in foreign countries, particularly the one seen in Egypt, and was recently the subject of a CNBC documentary, named #TwitterRevolution. Twitter's importance in media has grown exponentially over the past few years, as news now breaks on Twitter and people find out about events faster than they ever did in the past.

The executive team at Twitter, led by CEO Dick Costolo, CFO Mike Gupta, and operations head Ali Rowghani are right to express concerns about its offering. The problems that plagued Facebook are still fresh in their minds, and Facebook only recently regained its IPO price of $38 per share, after having reported exceptional second-quarter results in late July. Presumably, Twitter doesn't want to wait over a year to regain its IPO price as Facebook had to do, and may wind up leaving significant amounts of money on the table to accomplish that goal.

The Nasdaq's second technological error in nearly a year casts a poor light on the electronic exchange. The exchange, once known for getting all of the popular technology IPOs and listings, now has increased competition from the New York Stock Exchange when it comes to technology companies.

TheStreet predicted that Twitter would file its documents this year to go public, as the company seeks to increase its coffers, raising money to fuel further growth. Recent equity trades on private exchanges have put Twitter's valuation around $10 billion, but a true initial public offering could see Twitter's valuation well north of that $10 billion figure.

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