成人小说亚洲一区二区三区,亚洲国产精品一区二区三区,国产精品成人精品久久久,久久综合一区二区三区,精品无码av一区二区,国产一级a毛一级a看免费视频,欧洲uv免费在线区一二区,亚洲国产欧美中日韩成人综合视频,国产熟女一区二区三区五月婷小说,亚洲一区波多野结衣在线

立即打開(kāi)
Twitter上市不會(huì)重蹈Facebook覆轍

Twitter上市不會(huì)重蹈Facebook覆轍

Joshua Morgan Brown 2013-10-09
Twitter上市在即,業(yè)界一片沸騰,讓人再次想起Facebook上市前的光景。不過(guò),F(xiàn)acebook大熱倒灶的IPO悲劇依然歷歷在目,沒(méi)人愿意Twitter重蹈覆轍,而華爾街和媒體似乎也已經(jīng)從Facebook的悲劇中汲取了教訓(xùn),確保平穩(wěn)開(kāi)盤(pán)預(yù)計(jì)會(huì)成為T(mén)witter上市的重中之重。

????另外我想指出,Twitter的CEO迪克?科斯特洛有一點(diǎn)值得表?yè)P(yáng),那就是他對(duì)股票控制得比較緊,不像上一次Facebook上市時(shí),二級(jí)市場(chǎng)像跳蚤市場(chǎng)一樣亂糟糟的。Twitter公司禁止高管參與銷(xiāo)售股票,而且據(jù)說(shuō)Twitter的私人股票也是比較鞏固的。另外,F(xiàn)acebook的股價(jià)在一開(kāi)始受挫后現(xiàn)在已經(jīng)開(kāi)始穩(wěn)步回升,這也有助于Twitter在二級(jí)市場(chǎng)的表現(xiàn)。因此,當(dāng)Facebook在七月的最后一周宣布股價(jià)已經(jīng)回升到上市價(jià)格時(shí),Twitter的IPO申請(qǐng)開(kāi)始加速,這絕不是偶然或巧合。

????把這筆交易吹上天

????感謝上帝,F(xiàn)acebook上市的那天晚上,我沒(méi)有參加CNBC的“快速生錢(qián)”欄目。當(dāng)天晚上,該欄目邀請(qǐng)了梅莉莎?李和四名操盤(pán)手,結(jié)果Facebook股價(jià)一跌,他們五人立刻沒(méi)臉見(jiàn)人了。等到股價(jià)被攔腰砍了一半,所有之前狂吹Facebook股票的人都立刻追悔莫及。直到現(xiàn)在,我們一起上節(jié)目之前偶爾還會(huì)就這件事互相安慰一下?!都~約時(shí)報(bào)》(New York Post )的跟進(jìn)報(bào)道更是令這期節(jié)目聲名狼藉,甚至還責(zé)怪這期節(jié)目就是導(dǎo)致Facebook的IPO失敗的罪魁禍?zhǔn)住?/p>

????媒體同樣會(huì)圍繞著Twitter的IPO大肆宣傳,其中大多數(shù)恐怕都是由于媒體對(duì)Twitter服務(wù)本身的癡迷,不過(guò)這次跟上一次肯定很不一樣。另外Twitter現(xiàn)在只有2億的用戶(hù)群,不像Facebook上市時(shí)已經(jīng)有了10多億用戶(hù)。

????“黑色三分鐘”

????Facebook上市之前幾天,每一家承銷(xiāo)Facebook股票的投行的分析師們都開(kāi)始悄悄地告訴機(jī)構(gòu)客戶(hù),認(rèn)為Facebook的收益預(yù)期可能有點(diǎn)太激進(jìn)了。這種事之前可以說(shuō)是聞所未聞的。長(zhǎng)期市場(chǎng)觀察人士都感到非常吃驚,因?yàn)樗麄円矎臎](méi)見(jiàn)過(guò)這種事,可以說(shuō)這是對(duì)這次IPO徹頭徹尾的背叛。

????一旦流言開(kāi)始發(fā)揮它的威力,突然之間,許多人就會(huì)選擇在開(kāi)盤(pán)首日拋售股票,甚至全國(guó)各地的機(jī)構(gòu)投資人和對(duì)沖基金都會(huì)爭(zhēng)相要求取消認(rèn)購(gòu)。十年來(lái)最熱門(mén)的IPO在交易前最后幾小時(shí)突然變得門(mén)庭冷清,讓媒體和交易所都始料未及。

????隨著取消認(rèn)購(gòu)和拋售股票愈演愈烈,本已不堪重負(fù)的納斯達(dá)克交易所的情況也進(jìn)一步惡化了,局面變得更加混亂。等到當(dāng)日收盤(pán)時(shí),F(xiàn)acebook的股價(jià)已經(jīng)慘不忍睹,幾百萬(wàn)股東、操盤(pán)手、銀行家以及Facebook的員工們已然潰不成軍。與此同時(shí),F(xiàn)acebook的“孩子王”馬克?扎克伯格正在意大利度蜜月(莫名其妙的是,他居然被人拍到在當(dāng)?shù)氐囊患摇皾h堡王”里吃飯)。此時(shí)在紐約市,已有數(shù)十億美金隨著這次IPO蒸發(fā)了。這次交易后,所有人相互指責(zé)的場(chǎng)景恐怕永遠(yuǎn)都不會(huì)被忘掉。

????沒(méi)有人想再經(jīng)歷這樣一場(chǎng)悲劇。這一次可以肯定,各大交易所會(huì)把確保平穩(wěn)開(kāi)盤(pán)當(dāng)成重中之重,而且華爾街分析師們?cè)贗PO之前的幾天里也會(huì)盡力表現(xiàn)得最好。

????記住不要再亂嚼舌頭了,伙計(jì)們。(財(cái)富中文網(wǎng))

????本文作者是Ritholtz財(cái)富管理公司的CEO,也是The Reformed Broker博客的作者。

????譯者:樸成奎?

????I'd also like to point out that Dick Costolo, Twitter's CEO, should be commended for keeping a tight handle on shares, unlike the Second Market swap-meet environment that surrounded Facebook's debut. Executives have been barred from selling shares, and the private stock that is out there is said to be fairly consolidated. It helps Twitter's aftermarket prospects that Facebook's stock has now recovered its initial losses and has been steadily bolting higher. It's no accident or coincidence t?hat Twitter's filing wheels began to turn at the exact moment Facebook reclaimed its opening price during the last week of July.

????Hyping up the deal

????Thank the Lord I wasn't on CNBC's Fast Money the night the Facebook IPO priced because they made Melissa Lee and the four traders who were on the show all wear hoodies. Once the share price had been cut in half, all that exuberance turned to regret rather quickly. We still tease each other about it in the green room to this day. The New York Post made the Fast Money hoodie incident infamous, going so far as to blame the show for the deal's failure.

????There will still be plenty of hype about the public offering, mostly owing to the general journalistic obsession with the Twitter service itself, but nowhere near on a par with FB. Besides, Twitter has a user base of just 200 million, not the billion-plus Facebook went public with.

????Last-minute glitches and hitches

????A few days before the Facebook IPO, analysts at the very investment banks that were underwriting the offering began to whisper in the ears of select institutional clients that revenue expectations for the company were a tad too aggressive. This kind of thing was absolutely unheard of. Long-time market watchers were just gobsmacked; they had never seen anything like it, a complete and total betrayal to the whole idea of the thing.

????Once that word began to make the rounds, all of a sudden there were a lot more first-day flippers and even outright cancellations of allocation requests from institutions and hedge funds all over the country. The hottest IPO of the decade went ice-cold in the last few hours before trading, unbeknownst to the press or the exchange itself.

????These rapid-fire cancellations and sell orders only exacerbated the overloaded Nasdaq open, which made things even more chaotic. By the time the market had closed that day, the IPO price was just barely defended, and millions of shareholders, traders, bankers, and Facebook employees were utterly demoralized. In the meantime, Facebook's boy-king Mark Zuckerbergwas honeymooning in Italy (photographed, inexplicably, eating at a Burger King) while billions of dollars evaporated here in New York. The finger-pointing free-for-all in the deal's aftermath will probably never be forgotten.

????No one -- and I mean no one -- wants to live through that again. This time around, you can bet that the exchanges will make a smooth opening a life-or-death priority and that Wall Street's analysts will be on their best behavior in the days leading up to the IPO.

????Bite your tongue, boys.

????Joshua Morgan Brown is CEO of Ritholtz Wealth Management and author of The Reformed Broker blog.

掃描二維碼下載財(cái)富APP
久热中文字幕在线精品首页| 国产成人精品黄色视频| 欧美午夜成人精品视频| 98色噜噜刺激有声小说| 午夜亚洲AⅤ无码高潮片苍井空| 137啪啪肉体摄影男女骚视频| 亚洲一区爱区精品无码| 免费毛片手机在线播放| 国产欧美日韩另类精彩视频| 色欲久久久天天天综合网精品| 中文字幕亚洲无线码在线一区| 国内精品露脸在线视频播放 | 大乳的熟妇正在播放| 久久久久久国产精品免费| 一区二区三区无码按摩精油| 人妻少妇精品专区性色AV| 人人妻人人澡人人爽| 综合无码一区二区三区| 日韩精品亚洲人成在线观看| 欧美乱妇高清无乱码免费| 在线点播亚洲日韩国产欧美| 亚洲AV理论在线电影网| 精品午夜一区二区三区在线观看| 亚洲AV成人无码久久精品老人| 亚洲精品国产高清不卡在线| 国产91精品高潮白浆喷水| 免费精品无码AV片在线观看| 午夜性刺激在线观看| 亚洲精品成a人在线观看| 放荡大屁股少妇高潮喷水| 久久夜噜噜噜亚洲AV蜜臀| 一本加勒比HEZYO无码资源网| 国产亚州精品女人久久久久久| 日本在线看片人成视频1000| 国产成人精品一区91| 成年美女黄网站色大片不卡| 99久久国产综合精品五月天| 国产精品女同一区二区| 成人精品一区二区三区电影黑人| 亚洲AV无码乱码精品色欲| 99午夜精品一区二区三区|