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Tag: market top
Fat Lady Singing: The Alibaba IPO Top-Ticked the Market, Precisely
Guest Post by Jesse
“As flies to wanton boys are we to the gods. They kill us for their sport.”
William Shakespeare, King Lear
Wall Street puffed up the stock market indices to get the ‘largest ever’ IPO of Alibaba out the door.
Just in case you still had any illusions about these being ‘free markets,’ as if such a thing can even exist without the hard work of honest and objective referees.
After they took that piggy to market, the underwriters and the market manager (GS) let the markets go their own way.
Home again, home again, jiggety jog.
IF IT LOOKS LIKE A TOP, ACTS LIKE A TOP, AND LEMMINGS BUY TWITTER AT $46, IT’S PROBABLY A TOP
A few weeks ago they were talking about an IPO price for Twitter at $12. Last night they priced it at $26. This morning it will open north of $46. They lost $69 million last quarter. Can you say top of the market in 140 characters or less? Sometimes they do ring a bell at the top. Now where is my Pets.com prospectus?
Twitter Pricing Update: $42-46
Submitted by Tyler Durden on 11/07/2013 09:56 -0500
It just gets better and better: TRADING RANGE: TWTR (NYSE): 42.0000-46.0000
As a reminder, at $44/share, Twitter’s valuation rises to $31 billion!