Tech IPOs Now Seen Favoring NYSE Over NASDAQ

Nasdaq Inc NDAQ — the preferred listing place for tech IPOs seems to be losing that coveted tag as many upcoming offerings have opted for NYSE over Nasdaq.

A Forbes report pointed out the reason is "partly a hangover from the Facebook Inc FB's rocky Nasdaq IPO, but even more a result of NYSE's expanded services and intense marketing campaign in Silicon Valley."

The report highlighted the biggest tech firms currently in registration to go public (Elevate Credit, Line Corp. and Twilio) and the year's largest tech IPO to date, Acacia Communications, Inc. ACIA, all chose to list on the NYSE.

Related Link: Are You In The Know About IPOs?

Last year, companies such as Box Inc BOX, First Data Corp FDC, Godaddy Inc GDDY and Square Inc SQ chose to list on the NYSE rather than on the Nasdaq.

However, don't write Nasdaq off yet, as it is rules the roost "in a biotech sector that now produces far more IPOs." Forbes said, "Since the beginning of 2015 there have been 145 biotech IPOs in the U.S. (tech had 82). And of that 145, a whopping 142 listed on the Nasdaq.

At the time of writing, shares of Nasdaq were down 1.85 percent at $63.22 within the last hour of Friday's regular trading session.