ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The IPO for Uber (UBER) has fallen out the bed. The company priced its IPO at $45, opened at $42, and closed at $41.57. UBER’s one-day total loss in value from the IPO price was apparently the largest in history. For a moment, UBER looked like it could stabilize around its poor first day. Unfortunately, … Read more
Source: CNBC Ever since LongFin Corp. (LFIN) soared astronomically four days into its stint as a publicly traded company, I have been fascinated by the story. At the time I covered the story, I wrote: “The trading in recent IPO LongFin Corp. (LFIN) may go down as iconic in this era of frenetic trading in … Read more
A little over six months ago, I made a bearish case for Acacia Communications (ACIA) and Twilio (TWLO) based on the way each company rolled out follow-on stock offerings and the market’s reactions to the selling. Since then, ACIA and TWLO have fully lived up to bearish expectations. ACIA is down 55.1% from its offering … Read more
I raise yellow flags when companies implement a secondary stock offering soon after going IPO, especially after the stock has experienced a massive run-up. I get even more worried when the majority of the shares are being sold by shareholders rather than the majority of proceeds going into corporate investments. Two recent IPOs have popped … Read more
I thought I was done blogging about Zulily (ZU). The acquisition of ZU by Liberty Interactive (QVCA) on August 17, 2015 brought back the pain that was ZU right back into full view for me. My mistake with ZU started a little over a year ago as a play on a relatively consistent stock market … Read more