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專欄 - 從華爾街到硅谷

破發(fā)那點事:亞馬遜早有先例,,F(xiàn)acebook后市可期

Dan Primack 2012年05月23日

Dan Primack專注于報道交易和交易撮合者,,從美國金融業(yè)到風險投資業(yè)均有涉及,。此前,,Dan是湯森路透(Thomson Reuters)的自由編輯,,推出了peHUB.com和peHUB Wire郵件服務,。作為一名新聞工作者,,Dan還曾在美國馬薩諸塞州羅克斯伯里經(jīng)營一份社區(qū)報紙,。目前他居住在波士頓附近。
Facebook并非首家破發(fā)的互聯(lián)網(wǎng)巨頭,。亞馬遜當初也曾多次跌破發(fā)行價,,但這并不意味著它的股票從此就淪為垃圾股。事實上,,亞馬遜如今的股價已經(jīng)飆升到發(fā)行價的十幾倍,。因此,F(xiàn)acebook大可放心,。

????Facebook股票跌破其每股38美元的首發(fā)價引發(fā)一片嘩然,,但風險投資家比爾?古爾利提醒我們,,跌破發(fā)行價并不一定意味著該股票從此將一蹶不振,。他在上周五在Twitter上發(fā)布了下面這條消息:

????In all the hubbub over Facebook (FB) shares falling below their $38 IPO price, venture capitalist Bill Gurley reminds us that such a "break" does not necessarily mean that the stock is a long-term dud. From a tweet late Friday:

????與Facebook的情形一樣,當初亞馬遜(Amazon)的承銷商們也在首次公開發(fā)行前上調了發(fā)行價區(qū)間,,最終定價為每股18美元,。在第4個交易日,亞馬遜跌破發(fā)行價,,低收于每股17.12美元,。隨后一天的情況更加糟糕,收于每股16.75美元,。而事實上,,亞馬遜在上市后的前13個交易日中,有5天的收盤價都低于自身發(fā)行價,。

????而且,,正如古爾利所言,亞馬遜連續(xù)兩個月的收盤價都低于其首個交易日的收盤價(每股20.75美元),。

????但亞馬遜并未因此一蹶不振,。就在不久前,該公司的股票交易價約為每股219美元,。所以Facebook的粉絲們不妨放寬心,,它還有機會翻盤……

????Like Facebook, Amazon's (AMZN) underwriters had raised the offering range prior to IPO, ultimately pricing at $18 per share. It then "broke" on its fourth day of trading, closing down at $17.12 per share. The following day was even worse, closing at $16.75 per share. In fact, Amazon shares closed below their offering price for 5 of its first 13 days of trading.

????And, to Gurley's point, it closed below the closing price on its first day of trading ($20.75) for two months.

????But none of that doomed Amazon stock to a lifetime of mediocrity. As of last check, the company's stock was trading at around $219. So take comfort Facebook fans, not all is (necessarily) lost...

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