On Twitter and IPO's and Jim Cramer
CAPS needs an IPO function so those of us who want to up/down thumb a new issue can get the subscription price as our starting price. I up-thumbed TWTR the night before at $26 but my start price is more like the post-pop number for just a couple of points.
What's interesting about today's pop after the TWTR IPO is that it is not a rising tide for all social networking stocks. In fact, other similar equities are way down today; this tells me that the big buyers like the mutual fund managers took profits and reduced their positions in other social media companies in order to take a position in TWTR rather than increasing their exposure to the space. I had an indication of interest registered but sadly I did not get an allocation for this easy double and like Jim Cramer will not buy in the aftermarket. Cramer was dead wrong about Elon Musk's TSLA and SCTY and still is trying to cover his ass by branding Tesla Motors and SolarCity "Cult Stocks". See below for link to video.