Everyone, from the thousands of small cap underwriters who were banished from the business to the tens of thousands of people getting high in tents and occupying the nation, would agree that Wall Street is seriously broken. And Wall Street’s integrity is just as damaged as its shattered infrastructure. But while the infrastructure can be […]
Farewell, NASDAQ. The Next Wealth Generator Has Been Unleashed
So far this year, there has been a great deal of media attention surrounding the private company marketplace (PCM) or what is commonly called, the secondary marketplace due to the nature of shares it currently trades. While there are some who feel that this marketplace is nothing more than a thorn in the SEC’s side […]
Is Groupon’s IPO Doomed?
It was reported today that Groupon’s IPO is delayed until September while the SEC looks into some of its “fancy” accounting metrics. According to sources, the SEC is focusing on one metric in particular, CSOI, not to be confused with CSI, the popular television crime series. Even though both are draped in mystery, CSOI does […]
Did Pandora IPO Too Early?
Pandora (NYSE: P), the unprofitable Internet radio company brazen enough to demand a single letter trading symbol, made its public debut on Wednesday. At $16 a share, or $2.6B, Pandora was priced at about 19X last year sales. On its first day of trading, its shares rose as much as 63% from its IPO price […]
The Current IPO Landscape and the Vital Role of the Secondary Marketplace: Size Does Matter – Except If You Are Chinese
A few weeks ago I wrote an article titled, “Yes, Size Does Matter – The Current IPO Landscape”, in which I highlighted the most pressing issue affecting today’s IPO environment – the blatant bias towards the large cap company. I was inundated with emails from readers with questions such as, “Do we really live in […]