Monday, April 20, 2015

"Etsy’s Stock Is A Découpage of Market Schadenfreude" (ETSY)

What he said.

From DealBreaker:
Turns out that Etsy’s first day of trading might have been as cuckoo bananas as it actually looked.
 
After soaring to Icarian (if Icarus had made his wings out of hemp and spirit glue) values on Thursday, during which it peaked at $35.74 a share, Etsy stock is now unraveling like a spool of ethically-farmed yarn… in the hands of Wiccans… sharing a drafty farm house....MORE
It appears Bess is training a new team in the DealBreaker style.*

Previously:
Signposts: "Etsy’s Surging IPO Shows Losing Your Indie Cred Pays Off"

The IPO priced at $16 on Thursday so despite today's whack the stock is still up over 55%.
Not that I'd pay that much but it is what it is.

*I wonder whatever happened to that Matt Levine fellow, I liked his footnotes.