> you don’t raise double the money because you set the price 2x unless that was your plan. you would sell half the shares
You keep throwing out assumptions without anything backing them.
They at a price and amount for sale. Absent an auction set price it's almost certain that price is inefficiently set. And you're arguing that it was efficiently set when we have tens of billions of proof it wasn't efficiently set via yesterday's stock move.
I said nothing about efficiency. All I am arguing is that Airbnb didn’t screw themselves. No money was taken from them. They raised the money they wanted to raise at a price they thought would be tolerable by the public markets.
And handed all the gains on the first day over to the private allotment that was distributed from Wall Street banks to their top clients because no one else could buy shares. It’s total Wall Street bs.
Bill Gurney talking about the inefficiency of the ipo process on Wall Street and the inherent conflict of broker-client problem the banks carry with them.
You keep throwing out assumptions without anything backing them.
They at a price and amount for sale. Absent an auction set price it's almost certain that price is inefficiently set. And you're arguing that it was efficiently set when we have tens of billions of proof it wasn't efficiently set via yesterday's stock move.