Re:Tesla Motors IPO, Day 1
by JacobAldridge on Tuesday June 29, 2010 @06:28PM
(#1473120)
My only foray (to date) into shares was an IPO that didn't go up. My logic was much the same as your statement - don't these things always go up on the first day? I'll just get in early, get out on day one, make a profit.
(I was at university, so making a few hundred bucks and learning on the fly seemed like great returns!)
I purchased for 50c / share. Looked set to open at 55c, but a heap of stock got dumped right before it opened so it opened at 48c. I got out at 47c on day 2; the stock was at 5c twelve months later.
So I learnt a lot about research and business fundamentals from that. About six months later I tried again but missed out due to oversubscription - would have 4x my money on day one, more for those who bought and held on for a takeover 12 months later.
(I was at university, so making a few hundred bucks and learning on the fly seemed like great returns!)
I purchased for 50c / share. Looked set to open at 55c, but a heap of stock got dumped right before it opened so it opened at 48c. I got out at 47c on day 2; the stock was at 5c twelve months later.
So I learnt a lot about research and business fundamentals from that. About six months later I tried again but missed out due to oversubscription - would have 4x my money on day one, more for those who bought and held on for a takeover 12 months later.