Professor Jeremy Siegel at Wharton stated that “Investing in the latest hot technology stock is what Siegel calls the “growth trap”.
3. Investing in Fitbit? Venture cap guys pocketed $300M at IPO, retail investors sitting on 50-75% loss.
2. Maybe LKND, where price is back to IPO price around $100, but most retail investors got in at $130-175 and suffered 50% in last month alone. Insider sold only $30M. Not that smart.
1. Could it be IPO of GoPro at $25. No, the secondary offer at $75 that let execs cash out $600M, while retails investors are now setting pretty at $10 or 85% loss. Gotta love it.
I forget, it’s a “Random Walk Down Wall Street”, where future price movements are random. Translation – Insiders in their Bugatti’s and retails investors hitchhiking.
