So that's my little rant. It's highly disappointing to be sure. People talk about the hey day of the dot com boom and how so many people got rich on stock options. I think that number is probably significantly less than we like to believe.
Saturday, June 12, 2010
More on Mitel Stock and IPO's
I love that even on a stock market up day my shitty a$$ Mitel stock drops. Down to $ 9.60 and dropping a whopping 32% since it's IPO less than 6 weeks ago. This article says it'll be bullish in about 12 months if their first Quarter public financials show profit. Mitel hasn't shown a profit for years on its quarterlies, why should this quarter be any different? The article continues to state that a long position will be beneficial to the investor with the stock price estimate at approximately $14 by year end. That's what the stock IPO's at so woohoo! I could break even after 8 months if I'm lucky. On the flip side, why sell it, I have 85% less shares that I had before they went public due to their reverse stock split.