Several 'buy' ratings from SmileDirectClub's IPO banks failed to ...
) IPO banks failed to stop its stock from dropping 5% on Monday, reflecting Wall Street’s deepened distaste for money-losing startups in the wake of WeWork’s botched attempt to go public.
Underwriters of SmileDirectClub’s Sept. 11 initial public offer, including JPMorgan, Bank of America Merrill Lynch and UBS, launched analyst coverage of the Nashville, Tennessee-based company, with all recommending investors buy the stock. The company, which sells teeth aligners directly to customers, is among several large, money-losing startups whose IPOs this year have been received coolly by investors doubtful about their valuations and business models.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Just one day after a short seller slammed SmileDirectClub, all 10 banks on its IPO rate it a buyJust one business day after a short seller slammed teeth-straightening startup SmileDirectClub for cutting corners and putting its customers at risk, the...
Read more »
Wall Street is overwhelmingly bullish on SmileDirectClub even after it had the worst US IPO in 12 years. Here’s what analysts are saying.Analysts have a rosy view of SmileDirectClub — roughly 85% of adults have crooked teeth but less than 1% receive treatment.
Read more »
Ahead of Saudi Aramco IPO, Nasdaq CEO says massive companies could benefit from dual-listingNasdaq CEO Adena Friedman said Monday that there is a case for companies on course to deliver a significant amount of liquidity to consider a dual-listing.
Read more »
Inside Bill Gurley's mission to upend the tech IPO market in favor of direct listingsBill Gurley has spent the past month evangelizing direct listings over IPOs so that tech companies stop handing out free money to Wall Street.
Read more »
Fear Overtakes Greed in IPO Market After WeWork DebacleShares of newly public companies, earlier this year one of the hottest investments on Wall Street, are in a slump after investors soured on money-losing startups from Uber Technologies to WeWork.
Read more »