Silicon Valley, CA
SPOT (tify) music streamer, went public this morning without using an underwriter or investment broker as an agent. I watched the stellar asking price at $165 dollar a share. It had no taker initially and watched the stock price getting lower throughout the day.
This reminds of a home seller FSBO who did not use an agent wanting to sell it himself to save commission money.
Does this seem to be another trend to save money? While stocks are not like homes, they issue just so many shares. As an investor wouldn't him want to wait until prices are more in line with other streamers? I think the analogy is FSBO the asking price is too high and it may take awhile to tell if they are truly large capitalization like bigger players......
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