Yahoo! Made! $8bn! In! One! Day! And! You'll! Easily! Guess! How! Sprawling web souk Alibaba didn't see its stock-market debut go as planned on Friday. It went much better. The Chinese giant closed its first day on the US stock market with a share price of $93, up 38 per cent from its opening price of $68 per share. The offering netted the biz $21.8bn in investment, and marked the largest …
The objective is to buy low, maybe met, and fracking sell high. Were I the CFO, I'd be mighty upset unless I were the one to be so stupid. As a Yahoo! shareholder, I'd be looking for some scalps. (Not balls as Yahoo! ain't had any in years.) Hell, if I were a gambler, I'd do a reverse merger on the market behaviors.
@goldcd - "I'm reasonably sure, they're not too upset over this."
They left $3 billion on the table today, which is more than all their earnings last year. So whoever in their executive suite is not too upset should probably be looking for a new line of work. I can't imagine their investors are real cool with it.
They may have had to sell it at the opening price. It would depend on what deals they have/had with Alibaba to get the stock in the first place. Given the way things have been lately, the stock could have nose-dived after the initial rush to buy. Still $8 B is nothing to sneeze at. I wonder if they'll sell off a few more shares come Monday if the price is still high?
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