New York Stock Exchange

Snap IPO To Price At $17, Above Range, Valuing Company At $24 Billion

Snap is set to price its initial public offering at $17 a share. That would value the parent of the popular disappearing-message app Snapchat at nearly $24 billion, above the $19.5-$22.3 billion valuation targeted initially by the company, suggesting strong investor demand. At that valuation, Snap would be the biggest U.S.-listed IPO since Alibaba Group Holding Ltd. debuted in 2014.

A Quarter Of Snap IPO Buyers Agree Not To Sell For One Year

Snap said it expected approximately 50 million shares of its Class A common stock purchased by investors in the offering to be subject to a separate one-year lock-up agreement, meaning they would be unable to sell for one year after the IPO breaks for trading on Thursday after it prices late in the day on Wednsday.

Why A Bitcoin ETF May Not Be Coming Any Time Soon

When it comes to the future of bitcoin, the "holy grail" has emerged as becoming the first to have a bitcoin ETF approved by the SEC. Unfortunately for the bitcoin faithful, one may not be coming any time soon.

Frontrunning: December 15

  • Yellen, Trump on the Same Page, for Now (WSJ)
  • Bond Rout Deepens After Fed Move (WSJ)
  • Dollar Climbs to Strongest Since 2003 on Fed Path; Bonds Drop (BBG)
  • Trump’s $6 Billion Cabinet: Mostly Men, Mostly White and Not Much Government Experience (BBG)
  • Trump’s Foreign Partners Expect to Benefit (WSJ)

Trumphoria

As momentum feeds on itself, it appears Trumphoria is in full swing...

Company Issues Press Release To Report Its Market Cap Hits $1 Billion

"Customers Bancorp, Inc. the parent company of Customers Bank, today reported that the Company achieved a market capitalization of $1 billion on December 6, 2016. "Reaching a market capitalization of $1 billion is an important milestone for us," said Jay Sidhu, Chairman and CEO of Customers."