59, opens at 150, and you talk about it not seeing that price again. I fear my comment about cluelessness was actually understated.
Wouldn't it be funny if this IPO also coincided with a May top in the equity markets. Oh the humanity! Now if you receive "bad service" from IB you can short some shares to make up for it
how am I wrong? The NMX IPO was extremely demanded and hyped. My point is that after the hype, real value settles in. The fact that IB's IPO opened only 10% above placement price tells that relative to the NMX IPO, this was relatively lackluster in demand. The bid/cover #s were a false indicator, since the nature of the participants of the auction has to be factored in. Not saying the stock is worthless -- but it'll probably go nowhere for awhile and settle at 25.00-30.00. Up to 50 in the near term is dreaming at its best.
You should buy shares along with demoship and pump a $50 opening which was inaccurate by a long shot.
This is a dog of an IPO. All those arguing 'fundamentals' or 'growth' or anything else aren't paying attention to the bid/ask. Hips don't lie. (FIG blew out earnings in Q1, and is still below its IPO price, and I'd rather own FIG [though I don't and won't] than this competitor-laden walrus)
Well, I was dead wrong. So i dumped at open. It's not like I'm going to sit around waiting for it to hit $50
How many shares did you buy and at what entry? I wan't you to come back and either gloat or take your bitter pill at a time certain.
looks like a vast majority of the buyers were not flippers. long term holders here. at least a week. ;-)