破發那點事:亞馬遜早有先例,Facebook后市可期
????Facebook股票跌破其每股38美元的首發價引發一片嘩然,但風險投資家比爾?古爾利提醒我們,跌破發行價并不一定意味著該股票從此將一蹶不振。他在上周五在Twitter上發布了下面這條消息: |
????In all the hubbub over Facebook (FB) shares falling below their $38 IPO price, venture capitalist Bill Gurley reminds us that such a "break" does not necessarily mean that the stock is a long-term dud. From a tweet late Friday: |
????與Facebook的情形一樣,當初亞馬遜(Amazon)的承銷商們也在首次公開發行前上調了發行價區間,最終定價為每股18美元。在第4個交易日,亞馬遜跌破發行價,低收于每股17.12美元。隨后一天的情況更加糟糕,收于每股16.75美元。而事實上,亞馬遜在上市后的前13個交易日中,有5天的收盤價都低于自身發行價。 ????而且,正如古爾利所言,亞馬遜連續兩個月的收盤價都低于其首個交易日的收盤價(每股20.75美元)。 ????但亞馬遜并未因此一蹶不振。就在不久前,該公司的股票交易價約為每股219美元。所以Facebook的粉絲們不妨放寬心,它還有機會翻盤…… |
????Like Facebook, Amazon's (AMZN) underwriters had raised the offering range prior to IPO, ultimately pricing at $18 per share. It then "broke" on its fourth day of trading, closing down at $17.12 per share. The following day was even worse, closing at $16.75 per share. In fact, Amazon shares closed below their offering price for 5 of its first 13 days of trading. ????And, to Gurley's point, it closed below the closing price on its first day of trading ($20.75) for two months. ????But none of that doomed Amazon stock to a lifetime of mediocrity. As of last check, the company's stock was trading at around $219. So take comfort Facebook fans, not all is (necessarily) lost... |
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