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"Negative institutional discount"

In his article today for The Wall Street Journal, Telis Demos cited Triton's "2019 Tech IPO Winners and Losers – Part Two" note on "Negative 'pops': overall, despite short-term gains for investors, issuers got the better of the pricing process" "By year-end, the value of shares sold in tech IPOs had actually declined by $1.7 billion in the aggregate, Triton found. And considering that two of the four-biggest IPOs traded down on day one— Uber Technologies and Peloton Interactive —nearly half of the tech IPO money raised last year came at a 'negative institutional discount,' Triton founder Rett Wallace wrote in a note."

Full article in The Wall Street Journal - HERE



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