Chillin' out till it needs to be funded
Jive Software opened a successful crowded IPO week with a 25% premium to price of IPO on Tuesday. Michael Kors fashions followed with another 25% jump over the price of $18 it locked in 47.2 mln shares , opening trading today. With 3 out of 5 energy IPOs panned this week also opening and one trading at a premium, the stage is all set for the anaysts vs Zynga match on the NYSE floor tomorrowas zynga planned raising its price to $12 early in the week and analysts slammed it for the consistently losing growth numbers posted by Zynga even as it grows to 235 mln Monthly Active users, highlighting their incomplete nowledge of the model and a healthy disrespect for all things digital.
Zynga remains the darling expected to trade high and detractors making significant bets on when it will first return negative to the IPO price even as tardy accounting could not prevent coupon deal Groupon from trading a premium in today’s trading at $22 after analysts opened coverage on the stock. Linked in had jumped 12% on the day coverage on the stock opened in June. Groupon slid down earlier to below $16, Its IPO was priced at $20.