From the $38 IPO price, we open at $42.05 (now at $40.1) but we note that in Germany it has tumbled from well over EUR90 earlier. We get the sense the media is disappointed, but of course they will be talking longer-term now and defending a weaker-than-expected open: CNBC: "I just want to make sure we don't whip ourselves into a frenzy on the short term value." - perhaps a little late for that eh?
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and 5 mins later...defending $40 like crazy...
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close-up - shows the algo-defense...
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$38 Handle...
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Germany's pre-US-open pricing...
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