Because It Needs To Be Said

On my show today I expressed a few different observations about just what’s passing today for “informed analysis” when it comes to both the “markets” as well as the entirety of the “Hot!” IPO world.

As I’ve said so many times or, ad nauseam, it’s just farcical the way much of this stuff is being spun. So much so, washing machines can no longer hide their envy.

To prove or give credence to my allegations, I supply you with one of the darlings of said world that went public about this time last year and just how that’s all “working out” as I like to say.

This example was to be, what was suppose to be, the, and by that I mean just that, the public offering that would prove once and for all that streaming was the force of revenue nature that would put all others to shame: Spotify™.

So, without further ado, I begin with an article I just perused via TechCrunch™ as it reported on today’s newest “darling” Slack™ that went public with so-called great fan fare. Hint: It ended the day precisely where it began.

Here’s a screenshot of said article with the line highlighted that caught my attention. To wit:

And here is what that “relatively well” truly looks like as they say in “The Valley” “Picture form.” I’ve noted my comments on it. Again, to wit:

(Chart Source)

It would now seem that the ability to get back to even, after a full year, on the most market positive day in human history as it tags lifetime highs, is now the equivalent for “relatively” crushing it.

Can you say, “It’s different this time?”

Personally I always found it quite amusing that these so-called “innovative” companies can only survive if they jettison what they started out as, which are cash-burning fantasies, and pivot into the functioning businesses models they decimated, such as, the only way streaming can survive is by becoming ad based, curator or playlist based, build hit lists like Top 40, wait…

Does that not sound like a radio station of old with disc jockeys, commercials, playlists, hit lists and more, hmmm? Nah, must just be my imagination, yeah, that’s it. For this is disruptive disruption, right? Right?

Oh wait, I almost forgot, here is another “picture.” It’s of today’s latest and greatest public offering aka Slack.

How’d it do? I’ll let you decide, again, to wit:

(Chart Source)

All I’ll say to that, is this: on what could – and should – be the most favorable days ever to go public (i.e., new all time highs) the best this latest and greatest for public consumption unicorn offering could do, was – get back to evenby falling back – to where it started.

On a side note, I guess that is a bit better than ending on the lower lows it made before it closed. But that’s just me.

I wonder if that had anything to do with the fact this was just another in the long line latest and greatest “successful” bag holder transfers investing opportunities. Sorry, but again I digress, because after all…

What do I know.

© 2019 Mark St.Cyr