Weatherman2020
Diamond Member
- Mar 3, 2013
- 94,529
- 66,432
The Clintons just don't seem to have the same juice they used to have.
Firm Tied to Clintons Lands First Day On Open Market, Tanks Immediately.
Laureate Education, Inc., which has close ties to Bill and Hillary Clinton, tanked on its first day in the stock market.
The for-profit firm’s Initial Public Offering (IPO) of stock to potential investors was put on the market Wednesday by KKR and other leveraged buyout owners in the hope of reducing a crushing $4 billion debt.
But even before the company was to go public as a NASDAQ traded firm, it was clear the stock price would not command the owner’s projected $17 to $20 price target. Late Tuesday before Wednesday’s opening, the market priced the Laureate IPO at $14, about 15% below Laureate’s estimates.
The Laureate IPO went nowhere during the day, went as low at $12.46 and closed at $13.25.
“There was no appetite for this stock. It looked ugly today,” Lon Juricic told The Daily Caller News Foundation Investigative Group (TheDCNF). Juricic is founder and president of StreetInsider.
“There’s just a lot of questions about the company. The private owners, they’re liquidating it. Investors don’t like it’s big debt. They weren’t biting,” Juricic said. But “people don’t like these deals.”
Firm Tied to Clintons Lands First Day On Open Market, Tanks Immediately.
Laureate Education, Inc., which has close ties to Bill and Hillary Clinton, tanked on its first day in the stock market.
The for-profit firm’s Initial Public Offering (IPO) of stock to potential investors was put on the market Wednesday by KKR and other leveraged buyout owners in the hope of reducing a crushing $4 billion debt.
But even before the company was to go public as a NASDAQ traded firm, it was clear the stock price would not command the owner’s projected $17 to $20 price target. Late Tuesday before Wednesday’s opening, the market priced the Laureate IPO at $14, about 15% below Laureate’s estimates.
The Laureate IPO went nowhere during the day, went as low at $12.46 and closed at $13.25.
“There was no appetite for this stock. It looked ugly today,” Lon Juricic told The Daily Caller News Foundation Investigative Group (TheDCNF). Juricic is founder and president of StreetInsider.
“There’s just a lot of questions about the company. The private owners, they’re liquidating it. Investors don’t like it’s big debt. They weren’t biting,” Juricic said. But “people don’t like these deals.”
