Twitter and its financial advisors will be patting themselves on the back and counting their bucks after the firm's first day on the stock exchange saw its perceived value rise 73 per cent at the close of trading. Twitter stock price Investors piled into the stock at the start of trading; nearly doubling its initial $26 IPO …
Patrick Stewart is a self-confessed Big Fan Of Socialism.
So of course he won't be very well settled on the issues of "free", "valuation", "making a profit" or even "making economic sense while not killing yourself in the process".
Well, so be it. Still was a good actor of a starship commander.
And we all know...
... that Socialism is only one step away from Communism...
"Patrick Stewart is a self-confessed Big Fan Of Socialism."
Isn't that what the Starfleet Federation was?
It was the United Federation of Planets. Earth and its interests are represented by Starfleet. Jesus man.
But I don't know if a society with no money qualifies as socialism or communism. I don't believe it would as both of those things are based primarily around the distribution of wealth. All the other parts of those things are simply control mechanisms to maintain control of that distribution scheme.
It's utopian socialism - every member of the society contributes their labour as they are able and in return the society provides for all the needs of its members. Socialism does not need money or its distribution to function, it just needs a lack of some pigs regarding themselves as more equal than others (which is the most unrealistic aspect of Star Trek - all the technogabble stuff is probably achievable but socially engineering the human race so none of the species takes advantage of such a utopia is somewhat more far fetched.....).
But at least Facebook made money
Say what you want about Facebook but it was making money at the time of the IPO. Enough to pay the taxes of the employees who had stock and then some. It is now at $47 and change.
Twitter hasn't made money and hasn't come up with a plan to do so.
Can anyone say dot com bust
Re: But at least Facebook made money
Big day for cocaine dealers.
Thank you El Reg for including the word "perceived" in the first paragraph.
How do you ring a well ?
>but left the traditional ringing of the stock exchange well.
I couldn't see any "corrections" link, so said he taking on the roll of grammar nazi.
Re: How do you ring a well ?
@Khaptain - Re: How do you ring a well ?
> I couldn't see any "corrections" link
Look at the top of this page, next to Post Your Comment and House Rules.
"the company looks to have judged it just right"
Uhh no. It screwed up by about $15 per share and missed out on roughly 60% more cash which is about $10,000,000,000. I don't know how anyone can say that leaving $10B on the table is judging it even close much less just right. For the company this is a bigger cock-up than Facebook but who cares the VCs really got their buck if they sold at the 11AM bang. For everyone else, not so much and I expect it will settle down another $5-10 in the coming weeks if not days.
As I understand it an IPO is so the company can raise cash and pay back its debt to the investors, not just make a handful of people scads of money. Then again, "my car gets 40 rods to the hogshead and that's the way I likes it."
It isn't money left on the table, it is value created by excitement at low prices that seem to still be climbing. If they didn't start fairly low there would be no spike.
The bubble blows out
The function of a bubble is a strange thing. One thing is known for sure it is going to blow and collapse in on it self soon. The similarities between current bubble and the dot-com bubble are staggering. The only difference is that this bubble happens in a recession period and during low interest rates.
When this bubble blows is hard to know for sure, but it is going to be soon in my view.
Mis-priced the stock, then
"Twitter and its financial advisors will be patting themselves on the back and counting their bucks after the firm's first day on the stock exchange saw its perceived value rise 73 per cent at the close of trading"
And that, ladies and gentlemen, is where the bubble starts. Let's see. The Twits paid Goldman $59m to raise as much moolah on the open market as possible. So Goldman's best will have pored over the books, talked to investors, done their research, and priced in the hype-factor when setting the price of the stock. Which leads me to the last point. Goldman either thought the right price was what they opened at, and were caught unawares (the Muppet Defense) when the stock shot up; or they deliberately priced low to get a boost (voila, the Bubble starts here).
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