PayPal Bounces Up

from the amazing dept

So, PayPal started trading today and the stock shot up. This is actually quite impressive, and I imagine that it means a few remaining tech companies not completely on life support may suddenly try to rebuild interest in their IPOs. Top of that list is probably Google.
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  • identicon
    Russell, 15 Feb 2002 @ 1:12pm

    No Subject Given

    Does this mean that the IPO market, and by extension, the economy, is on its way back?

    reply to this | link to this | view in chronology ]

  • identicon
    Ed, 15 Feb 2002 @ 1:15pm

    harumph

    So one whole trading day is enough to reinvigorate the dot-com IPO market? The day's trading volume was higher than the size of the offering, so everybody in on it has probably flipped it already.

    Since the fall from the lofty heights of the boom days, there has been the occasional mildly successful IPO that has been interpreted as a sign that there's still a demand for good new companies. Every time I hear that, I add it to the 'ipo frenzy' list of symbols on my yahoo page. That list includes such companies as Transmeta and Loudcloud, both of which are trading at about $3.50 today, well below their offering prices. I expect to see PayPal in that range before too long.

    reply to this | link to this | view in chronology ]

    • icon
      Mike (profile), 15 Feb 2002 @ 2:30pm

      Re: harumph

      I agree, that I expect PayPal to fall pretty quickly, but I was surprised at the pop it got. I don't remember Transmeta, but Loudcloud started out down.

      The pop may well convince i-bankers to try to take a few others public.

      reply to this | link to this | view in chronology ]

      • identicon
        Ed, 15 Feb 2002 @ 4:57pm

        Re: harumph

        Loudcloud was an exercise in spin-doctoring to call it a positive IPO. I think they lowered the offering price a few times before it finally happened, then it may have squeaked out only a marginal gain, but it's down from even that mediocre start. I'm vaguely recall that, at the time, people were calling it a modest success, given the unfavorable market conditions at the time. (Maybe unfavorable compared to 1999. Really unfavorable conditions will be when the investment bankers lose their shirts on a dog of an IPO.)

        reply to this | link to this | view in chronology ]


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