Visa post-IPO Question
I was unable to get in on Visa's IPO because E*Trade Canada wasn't taking part in it, and I still haven't been able to get in on its trading through E*Trade Canada thus far. Apparently, it's up at least 48% in the first hour of trading.
I'm curious to know what the higher rated players here believe is going to happen. I had no problem getting in on Visa @ $44, but with it jumping to $65 in an hour, is it too expensive to grab at this point and is expected to come down once the excitement dies down? If so, any predictions on how low it should come back down? Any ideas on an entry level price?
Or should I just grab it at the first chance I get?
Right now, I'm leaning towards watching it for a couple of weeks.
Thanks in advance.