The initial public offering market is still on fire even as the weather cools. Food-delivery company DoorDash shares surged 86% in their first day of trading Wednesday, kicking off an uncharacteristically busy month as the IPO market shatters records. The next day, shares of the home-rental startup Airbnb ABNB -3.
The company has been seen as an industry pioneer in detecting and responding to cyberattacks carried out by foreign governments, and has often publicly linked prolific hacking groups to specific foreign intelligence services. Shares fell 13% Wednesday.MetLife is saying goodbye to its home-insurance unit. Swiss insurer Zurich Insurance Group AG will acquire the company’s U.S. property-and-casualty insurance business for $3.94 billion, the companies said Friday.
More ballots huh
DoorDash IPO is proof that Wall Street operates on emotion, not analysis. A year from now, people will be wondering if they'll be able to continue operations. Smart of them to go public now. Stupid of anyone to buy it.
I think those that bought DoorDash are going to be very sorry if they don't unload it pretty quickly.