Rough day yesterday. Appears some may be raising cash to buy into PINS and ZM IPOs today! This is not uncommon. Frankly, PINS (Pinterest) does not (p)interest me as it appears they will be way overvalued and have no pathway to profitability and not the growth story I look for in my investments. Traveling the next week in mainland China…sorry for radio silence…14 hour difference, but this travel experience has been an incredible, If challenging, one. Cheers from Guilin, China!
User question: ZM is interesting. Do you guys have an opinion? I feel they’re the company that will dominate videoconferencing. Leading product for sure. Huge market, and Enterprise side is still highly fragmented.
Victor: Love the product! They are up 70% this morning on the IPO. I tried to get an allocation, but they were severely oversubscribed. I suspect they are overvalued at this price, but will monitor them going forward. But I may be wrong. Wow…up 70% over the IPO price. Hope they don’t go the way of Lyft.
User comment: IPOs to me are gambling. Longer term Lyft should do well. But I said that about snap, too…
Victor: Generally I have found that if I can get in pre-IPO I can do very well. If I have to buy the day they open, it’s all hype and I skip it and wait until it levels off, analyze its growth at that point and then determine if I want to invest.
