Sni IPO profile.

And only 9 million shares moved in article I read.

 

Mister L and his associates got a good look in the mirror and said "huh maybe our turds do stink"

 

Your " hero" in action...

http://finance.yahoo.com/video/schn...ARyZWdpb24DVVMEc3ltYm9sA1NORFI-?.tsrc=applewf

 

16.9 million shares were traded on the open market today. SNI and it's shareholders sold 29 million shares and raised 550 million dollars. Some of those shares " sold" went to the underwriters and "friends and family" investors. Those shares wouldn't show as active trades.

It's too early to tell if the timing is good or not, buy I still think it's over priced.

One interesting thing that Lofgren mentioned was the IPO allowed the 4th generation to start taking ownership. Reading between the lines I'm guessing Don set up a family trust with Al's grandchildren as the beneficary. Trusts like that have some major limitations and I'd guess that one or more of the grandkids want their money now. Like maybe someone planning a US Senate run?

 

dude is getting fat......in more ways than one

 

I love pretending to know what is going on in the markets. So heres my two cents.

IPO price is fair at $19.

One thing I do not like about it is these are class b shares being bought by the public. Class a shares are held "by the family" with special voting rights. Some companies like Ford have this structure, so it is nothing new. Google and Facebook founders have given themselves special voting rights. People who buy shares of Snapchat do not have any voting rights.

 

That makes what, 21-22ish PE? That's great for a growth company but for an established company that sucks. 7-10 P/E would be the right range so $8.50-$9.00 would be fairly priced.

TA

 

I'd say13-14, but unless SNI pays one heck of a dividend 19 is way too expensive

 

They were looking for hedge funds that would hold onto stock for long term growth is my guess.

 

They can wish in one hand and sit in the other and see which fills up first.