At the Last Minute, Bu(m)bble.com Appears
Could this be a spooky rhyme?
by Murray Gunn
Updated: February 17, 2021
Initial public offerings are mostly a bull market phenomenon. It's hard to sell investors on the idea of some new, unproven company's fantastic future potential when investor mood is sour, as it is during a bear market.
Last year, and this year so far, have been rich on IPOs -- because stocks, as you know, have been screaming higher and higher since last March lows.
But read this essay by our Head of Global Research, Murray Gunn, where he thinks back to a particular IPO that hit the market "a Fibonacci 21 years ago, in February 2000..."
There may be a lesson here for today's investor.