Last week, the publicity hype machine was set to “fiesta” mode with much fanfare over the Guzman y Gomez listing on the ASX.
“The Guzman y Gomez IPO will further cement the status of modern-day public markets as a Ponzi-esque wealth distribution mechanism for a privileged few and in many ways not much different to online gambling websites,”Much unlike trading, where success stems from years of work and effort, success in the IPO game depends on your existing wealth and connections.at price to earnings ratio of 500, compared with Nvidia’s 74.
Last week, Guzman y Gomez shareholders made an instant 36 per cent profit when shares popped to $30. Earlier this month, analysts at Morningstar valued the stock at $15, 50 per cent below its current share price.
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Guzman y Gomez IPO: Investors scamble amid strong demand for GyG shares on ASXSources said some investors interested in the $2.2 billion float received 10 per cent of what they had wanted. Others, however, managed to grab 45 per cent.
Source: FinancialReview - 🏆 2. / 90 Read more »
Can Guzman Y Gomez’s New Yorker frontman prove everyone wrong?Managers say the IPO is too riddled with cushy perks for insiders to offer value. Founder Steve Marks disagrees.
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Live updates: Mexican fast-food chain Guzman Y Gomez listing today, ASX expected to lose groundThe ASX200 is expected to open lower this morning, after a weak lead from European markets. Wall Street was closed overnight for a federal holiday. Mexican fast-food chain Guzman Y Gomez will list on the ASX today.
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ASX 200 LIVE: Guzman y Gomez to hit ASX boards; shares slipGuzman y Gomez targets more than 1000 stores in Australia. Bitcoin fund lists on ASX. Wall St closed. NZ exits recession. Gold, oil flat. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »
ASX 200 LIVE: Guzman y Gomez to hit ASX boards; shares slipGuzman y Gomez targets more than 1000 stores in Australia. Bitcoin fund lists on ASX. Wall St closed. NZ exits recession. Gold, oil flat. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »
ASX 200 LIVE: Guzman y Gomez to hit ASX boards; shares slipGuzman y Gomez targets more than 1000 stores in Australia. Bitcoin fund lists on ASX. Wall St closed. NZ exits recession. Gold, oil flat. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »