I see that IV is advertising that they have created a Facebook page for all of the potential suckers, errr... shareholders.
I had to chuckle at a financial "expert" on tv talking about how over-priced the IPO is, and how the market seems to be valuing it at 26 times earnings. Uhhh.... earth to "expert', it is trading at 26 times REVENUE! Does the company even make any money? I am unsure, and could care less, as I sure as hell won't be buying any shares.
But this IPO does indicate that the market will still bid up a good story, all the while it punishes companies that actually make money and have a solid business plan. Doesn't make a lot of sense, but what does these days?
I imagine tomorrow won't be very good for the general market, as we will be going into the weekend with the continued uncertainty over the armpit of the earth, commonly referred to as 'Greece', hanging over our heads. They will be torturing us for months to come, so I simply cannot see how the markets will recover anytime soon. By then we will be into the silly season of the US election, and who knows what that could bring. Hopefully a batch of QE3 money for starters, but would that be enough to counter everything else? Doubtful.
And be aware that the liars, manipulators, and con artists will be out in full force, taking advanatge of investors' fears.
It is going to be a rough summer.