ZIPCAR - the company that provides a service of car sharing (with gas included) in big cities and college campuses, made an IPO today. The company had initially priced it offering at 14-16, then raised it to $18/share on perceived demand. However, the underwriters of the IPO still managed to most likely pull a fast one and net money to themselves and their clients - rather than the IPO making company.
Imagine, ZIPCAR should have got ~$30 for each share or at least $28 or so, but instead they lost $10 per share at least due to some sloppy advice - whether purposeful or not is questionable.
Then we have people evaluating it to be a billion dollar company based on some fuzzy math..
Hat tip to a Seeking alpha writer.
Imagine, ZIPCAR should have got ~$30 for each share or at least $28 or so, but instead they lost $10 per share at least due to some sloppy advice - whether purposeful or not is questionable.
Then we have people evaluating it to be a billion dollar company based on some fuzzy math..
Hat tip to a Seeking alpha writer.
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