It's finally here. Twitter (TWTR)
will be freely trading as a public company and the world will most
likely resume spinning on its original axis. There's no stopping it now.
Twitter's IPO has become a force all its own. Hundreds if not thousands
of people are working behind the scenes to make sure this thing goes
off without a hitch. It would be easier to stop a tsunami with a tennis
racquet than it would be to stop shares of Twitter from hitting the
floor of the NYSE on Thursday morning.
Zor Capital founder Joe Fahmy isn't expecting Twittter's IPO to be as catastrophic as Facebook (FB).
"If this doesn't open $30, or even higher I'd be shocked," says Fahmy
in the attached clip. After the Facebook debacle of 2012, the investment
banks have too much riding on Twitter to let it fail. However amoral
they may be, the fact is it's not in the bankers' best interest to see
Twitter get crushed. A Twitter crash would be bad for the IPO franchise
and the banks have other companies they want to take public after
Thursday. It's taken 18-months to get the public excited about another
social network IPO. To the extent possible the banks need this to go
well. "They want to make a point," as Fahmy puts it.
Please share this article
No comments:
Post a Comment