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After WeWork debacle, IPO market slams brakes on unprofitable companies

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Companies making their debut on the U.S. stock market are getting a rough welcom...

BOSTON - Companies making their debut on the U.S. stock market are getting a rough welcome, especially if they are losing money, casting a shadow over the calendar for initial public offerings for the rest of the year.

A more discerning market for initial public offerings continued to punish Peloton Interactive Inc PTON.O on Friday, a day after it began trading, as shares of the fitness startup fell 4% to $24.74. The company is now trading 15% below its Wednesday IPO price. Peloton reported rapid top-line growth of 110% during the fiscal year that ended June 30. But the company also showed negative operating leverage, with operating expenses surging 147% over the prior year.

 

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As it should. Did everyone (a) collectively lose their minds and decide that every unprofitable company is just Amazon in disguise? and/or (b) forget Does anyone remember the sock puppet and the bust? It wasn't THAT long ago.

Thanks -- get WeWork and MiguelMcKelvey out of here...

About time ...I have been warning that these IPO models are not sustainable for the last 18 months

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Woozy WeWork Targets Global Investment Banking In Fertility Via IPO Fast TrackIn the same exact 12 E. 49th St. NYC prime real estate as WeWork is Rhone Group LLC, the investment adviser firm and Rhone Group Advisors LLC, the Brokerage Firm and Investment Bank.
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