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ETSY Crashes Over 40% From IPO Highs In 3 Weeks
From a high of $35.74, ETSY - the company that sells arts and crafts online - has collapsed almost 44% in the 3 weeks since its much-heralded IPO. Down another 9.5% today, and closing in on its IPO price of $16, it appears the 'public' stock markets are exposing the 'private' stock bubble a little too clearly recently...
With a Fwd P/E of 177x still, seems like a perfect BTFD opportunity...
* * *
As The Verge reported recently,
Despite the company's impressive revenues, its market value it
dwarfed by many still private Silicon Valley companies like Pinterest
and Snapchat that have little or no revenue to speak of.
Recently many
tech investors have been warning that these enormous private valuations
may leave some companies underwater when they go public, as happened with Box, which was worth less after its IPO than it was after its last funding round.
* * *
But Uber is definitley worth $50billion right?
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What is etsy? Isn't it just a platform for hipsters to dish our their 'hard earned' gov cash on one another's pieces of shit?
I don't know why this could surprise anyone. Whoever IPOed them is going to make a killing, then it's gonn come crashing down to reality. How this hasn't happens with twitter and Facefuck yet is a mystery to me. ( the fed, not such a mystery after all)
Facebook and Twitter are ESSENTIAL to the NSA's data gathering operations. What more do you need to know?
Let's none of us have flashbacks of the 2000-2001 dot-com crash. OK? Get it out of your mind. It's different this time. We have all new "investors" that weren't even around then. It'll work this time. Trust me.
All of those "socal media" companies running purely on advertising dollars with market caps greater than the entire world's advertising budget AND losing money hand-over-fist every quarter.... it's fine. It'll work this time. I swear.
ETSY bitsy.
Everyone here is, as I thought I would find, shitting all over Etsy. Can't say I agree with the valuation, but it DOES allow poor, victimized debt servants a path towards gainful capitalistic enterprise. Good for them.
"All those "social media" companies running purely on advertising dollars with market caps greater than the entire world's advertising budget..."
Very well said, NoDebt
Wanna buy some hand-crafted hemp bracelets, or perhaps I could interest you in some shiny polished rocks?
The ETSY bitsy spider went up the water spout.
Our came reality and...............................
pods
lol, like.
Not sure why the share price is dropping. They don't have any profits, this thing should be soaring!
Ah, here is the problem. Don't try to steal from the rich or you will get CRUSHED.
Our research indicates as many as 2 million items on Etsy (>5% of all merchandise) may potentially be either counterfeit or constitute trademark or copyright infringement. We believe the share of GMS may be greater considering Etsy has become a go-to destination for counterfeits. Counterfeit candidates include items infringing on Louis Vuitton, Chanel and Michael Kors, as well as a wide range of Disney and NFL brands.
FB initially cratered too ... now look at where they have managed it to.
If one simply looks at the FB product it is hard to tell that they have found a magic way to make money. However, their numbers and stock price would indicate otherwise.
Odd, no?
Maybe ETSY will be managed the same way.
I'm long on Paper-Plate Macaroni-Art.....
If we drive to Hobby Lobby, we don't have to wait four days for the paintbrush...
If you liked it at $35.74 you're going to love it at $16.
"I liked it so much, I bought the company."
What im trying to figure out is why this lnkd shit is still trading at $200
It's complicated. Just trust me, it's the right number.
which pension fund was buying the IPO ?
How is Etsy better than Amazon ?
Not sure Amazon carries snoods knitted from spun cat hair yarn and embroidered with old twist-ties, but I could be wrong.
Lot of product shipped from Russia and financed by Russian mafia money. Chinese mafia probably in on selling supposedly home crafted products made with slave labor.
Lol.Bullshit.Com
Etsy is worthless, but the former site that made fun of Etsy, Regretsy, was brilliant!! It was the funniest site on the internet. The female comic that started it has since let it die, but it still is in the archives somewhere. Regretsy's tag line was "Where DIY meets WTF!". They picked out the most absurd items for sale on Etsy and ridiculed them appropriately. Now that site had some real value!
Wait, you mean a sparkly crocheted uterus pillow isn't a good gift?
You can get it with or without shoelace fallopian tubes!
I loved Regretsy! Was sad when they announced that it was going away. Make fun of the hipsters & hippies!
BTW, did the Dow flash crash about 10:15am EST ???
Nope. Pretty sure that was a stop hunt.
Whenevr ZH puts out a very negative story (in this case it was the labour market condition index story) the market briefly dips, but then recovers, as it is doing now.
Only 2 reasons to IPO:
1) To cash out at a high multiple to do whatever
2) To raise money
I don't think ETSY needed any money.....but the bankers sure did
I like ETSY as a customer who's into "art" done of fish and waves but when I looked at their prospectus the only thing that came to mind was "yup, they really are justa buncha pot smoking artsyfartsy burnouts who don't understand how to make money"... don't invest in them but do browse their "art" as with a little work you'll find something you'll really like and know that your purchase is keeping a local drug dealer in Venice Beach or Greenwich Village fed for the night :-)
My drug dealer and I thank you.
Just another sign that the global credit bubble is bursting. Bubbles always burst, most quite violently as this analysis of bubbles makes clear...
http://www.globaldeflationnews.com/anatomy-of-a-bubble-how-the-federal-r...
Deliberately underpricing new shares creates a huge wealth transfer from a newly public company to the major customers of an investment banking firm. Shareholders are better off in the long run with a higher net worth than with an artificial and temporarily high stock price. IPO’s are allocated to clients who pay the big commissions. Those responsible for the well-being of a company are the directors. If directors were held liable for the eradication of corporate assets, the mispricings would end. You can't find a DUTCH AUCTION these days. I guess the GOOG IPO was the end of it.
Their accounting sheets could use some artistic craftsmanship.
LOL, must have been enough retail bag holders.
thers an etsy bitsy problem here! whos sellig and then whos buying that crap!