VC: The People Buying Twitter Stock At A $10 Billion Valuation Are Acting Stupidly
But David Hornik of August Capital writes on his blog, VentureBlog, that the people buying those shares are acting stupid.
"I have heard of short term memory, but this borders on amnesia," Hornik writes. "Were the buyers in this latest secondary transaction (Twitter at $10B) asleep during the
Hornik says that the buying behavior in the secondary market doesn't make sense, mostly because these buyers likely have limited knowledge of Twitter's revenues, cost structure, and debt.
"I suspect that they, like many of the secondary buyers prior to Facebook's IPO, Groupon's IPO, Zynga's IPO...are betting, not investing," Hornik writes. [...] "The secondary market stupidity continues."
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings
- FPIs make remarkable comeback, infuse ₹2 lakh cr in FY24
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024