Posted on 10/02/2019 10:20:53 AM PDT by RummyChick
Faced with the potential for its stock to fall below $20 on the first day — stripping hundreds of millions from its valuation — top execs pulled the plug as its headstrong CEO declares, "We’re not willing to undervalue our company." It was past 4 p.m. on Sept. 26 and the stock market had closed for the day as WME president Ari Greenburg and other executives sat in a car making their way to the New York Stock Exchange. They were going to preside over the unfurling of a banner bearing the name of his agency’s parent, Endeavor Group Holdings, that was to be on display when the markets opened the next morning. The company was about to make history as the largest Hollywood agency to go public and the first to do so since ICM’s brief foray in the '80s.
(Excerpt) Read more at hollywoodreporter.com ...
Ahhh ... that’s a shame.
Another one of those so called “Unicorns” that are more like donkeys, no offense to donkeys.
It seems to me that most IPOs are for suckers.
/src on/Vote of confidence in my book.
Sounds like they bit off more than they can chew when they bought out William Morris and UTA.
It seems to me that most IPOs are for suckers.
...
Yep, but companies like Walmart, Home Depot, Microsoft, Cisco, Amazon, and Netflix were all IPOs at one time.
Cisco went up nearly a thousand times in less than ten years.
Mastercard was a really good IPO. It’s up nearly sixty times since 2006.
It think it’s the last almost great IPO. There’s been some good ones since then, but nothing great.
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