The common stock of the social networking company, Facebook, began trading May 18, 2012 on NASDAQ. This start of trading on a securities market is best described as:
A) a close out.
B) a security filing.
C) an initial public offer.
D) a secondary market offer.

Question

Quizplus · Accepted Answer

An initial public offer (IPO) is the first sale of stock by a private company to the public, which fits the description of Facebook's stock beginning to trade on NASDAQ.

The Common Stock of the Social Networking Company, Facebook, Began