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(MSN)   Snowflake's record debut triggers questions about the IPO model   (msn.com) divider line
    More: Followup, Google, Initial public offering, Cloud software company Snowflake Inc., Cloud computing, Michael Bloomberg, Venture capital, Bloomberg Businessweek, Chief Executive Officer Frank Slootman  
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827 clicks; posted to Business » on 24 Sep 2020 at 5:20 PM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



13 Comments     (+0 »)
 
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2020-09-24 4:39:36 PM  
the SEC need a safe space?
 
2020-09-24 5:41:06 PM  
So weird??  Feels like just a few days ago we were talking about this.

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2020-09-24 6:33:36 PM  
What questions? Pump with a limited buy-in, then dump on the public and let nature take its course from there. Same shiat, different ticker.
 
2020-09-24 6:47:37 PM  
This is one of those things where HFT algorithms could really come in handy.
 
2020-09-24 9:58:24 PM  
This quote from the article truly does sum up the terrible stupidity of the modern stock market:
"I don't know what this company does really except cloud computing. But everyone says it's free money. And I like free money"
 
2020-09-25 12:12:32 AM  

cefm: This quote from the article truly does sum up the terrible stupidity of the modern stock market:
"I don't know what this company does really except cloud computing. But everyone says it's free money. And I like free money"


When Facebook went IPO back in 2012, at the very first shareholders meeting over half of the attendants were there to ask what Facebook does and how it makes money. Barely any of them had even been to the site before.
 
2020-09-25 12:18:02 AM  

cefm: This quote from the article truly does sum up the terrible stupidity of the modern stock market:
"I don't know what this company does really except cloud computing. But everyone says it's free money. And I like free money"


The market needs dumb people. Who else can you unload on? If they can't read or even put in a stop limit order, LOL. Enjoy torching your funds. Also a shout out to my Homie JPow for creating massive asset bubbles and thus helping foster these idiots.

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2020-09-25 12:46:03 AM  
At the end of the day all you need to increase stock value is for people to buy in. Amazing, huh?
 
2020-09-25 3:00:27 AM  
It might have helped if the writer had bothered to explain what might we replace IPOs with, instead of stopping at "many people are complaining about them".
 
2020-09-25 8:16:21 AM  
Didn't Google do the Dutch auction thing?
 
2020-09-25 8:18:52 AM  

boozehat: So weird??  Feels like just a few days ago we were talking about this.

[Fark user image image 850x828]


Next week I foresee we will be talking about Palantir's IPO.
 
2020-09-25 9:27:02 AM  
Crystal Tse
This text convo I had with a friend probably captures the story with retail investors and IPOs right now. Friend: "SNOW. BUY BUY BUY"
Me: "Lol"
Friend: "I don't know what this company does really except cloud computing. But everyone says it's free money. And I like free money."



And that right there is the problem. Not a problem with the IPO system but with human greed and FOMO sentiment.

If you like Snowflake. Like the business and want to invest, chances are you'll have an opportunity to buy it at a discount in a few months.  Pro-tip:  the lockups will sell out and if I recall correctly, Snowflake is allowed to issue new shares by end of the year.
 
2020-09-25 10:32:16 AM  

Ishkur: cefm: This quote from the article truly does sum up the terrible stupidity of the modern stock market:
"I don't know what this company does really except cloud computing. But everyone says it's free money. And I like free money"

When Facebook went IPO back in 2012, at the very first shareholders meeting over half of the attendants were there to ask what Facebook does and how it makes money. Barely any of them had even been to the site before.


Isn't that how most companies operate?
Bethesda sold out to Microsoft, and the board of the parent company, Zenimax, had known video game moguls Cal Ripken and recently deceased Robert Trump on the board.

It's broken from top to bottom. The guys who do the work don't get any of the reward, and the guys who get the reward don't know what the work is.
 
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