Well, it was certainly over-priced, but it was simple enough to look at some fundamental numbers and rationally believe that this IPO was not going to jump through the roof - and I think that's a good thing. That many shares at a P/E over 80? Anybody who bought that stock over $35 was betting on somebody else being dumber than they were - and it didn't work out! :laughing:

I'd like to see the market return to this kind of thing, IPOs that hover right around their opening price until they demonstrate long-term value based on performance, not speculation. Morgan Stanley got hosed because they were greedy and stupid - I love it!

If I were putting any cash in the market, I might consider FB at between $27-$30 . . . and reasonably bet on it inching it's way up to around $40-$45 by the end of the first year.

 

IPO's are good only for their intended purposes. Raising capital. But the downside to the company issuing the IPO is their cred takes a huge hit if the value plummets.

The track record of tech IPO's is dismal, most losing chunks of value within one month.

 

Waiting on a precipice for 3 fucking years is boring!

 

Wait! Wait! You mean the sky didn't fall? Oh! No! And I had all my money in sky removal stock!!!! Damn!!!!

 

. . . and I'm on the Board of the National Sky Removal Corp, Inc., LLC & Partners Limited - thanks for the golden parachute!

 

Don't either of you worry a second. If you've got them I can sell all the skyhooks you've got any day of the week out here.

 

In the scheme of things, three years is but a fleeting moment in the days of mankind.