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No, it was a disaster that led to years of litigation. NASDAQ admitted it was their technical error and paid millions to settle lawsuits stemming from it. This
by jonknee 10y ago
No, it was a disaster that led to years of litigation. NASDAQ admitted it was their technical error and paid millions to settle lawsuits stemming from it.
This obsession by techies that you're leaving money on the table if your shares go up after an IPO is bizarre.
- maxerickson 10y agoIt priced 2 or 3 billion dollars over the early valuation estimates (a few weeks before the $38 debut, the roadshow was floating $32 as the top number). It was a $30 million settlement.
- ceejayoz 10y ago> This obsession by techies that you're leaving money on the table if your shares go up after an IPO is bizarre. How is it not leaving money on the table?
- toast0 10y ago> This obsession by techies that you're leaving money on the table if your shares go up after an IPO is bizarre. If the company gets $X/share at the beginning of the day, and bankers get $X * 1.5/share at the end of the day, that feels like a big donation to Wall Street. If I'm an investor, I'd rather the company have all the capital than 2/3rds of the capital as well. It feels like if a company would sell a portion of the offering through the traditional channels, and the remainder at market prices throughout the first couple days of trading, it might better capture investment.