Quote (excellence @ Dec 10 2020 01:42pm)
sure enough ABNB opens at $146 rofl
I think it should be criminal what some of these underwriting banks do and it’s them that are the predominant force behind it. Insiders obviously want very high prices so they can exit their investments at a better price but they have little power in having the price go from 68 to 146.
Guess who the underwriters are? Goldman Sachs and Morgan Stanley. These crooks are making a killing. They’ll pump the hype and create artificial demand and then slowly release the float. Like bnb imo is a pretty good business but like some said the jump in valuation seemingly overnight is nonsensical.