Banks meeting with Alibaba to win IPO business, NY Post reports
Banks including JPMorgan (JPM), Goldman Sachs (GS) and Morgan Stanley (MS) are meeting with Alibaba this week in an attempt to win the lead banking role in the company's initial public offering expected later this year, New York Post reports. The value of Alibaba's IPO, which could be a boon for Yahoo (YHOO) since it owns a 25% stake in the Chinese e-commerce giant, is estimated at $60B-$70B, the Post adds.
Shorts are in denial as usual. Now this IPO is finally coming and it is huge to YHOO. If YHOO can get more extra billions$$$ paying less taxes like Ken Goldman contemplating to do that is at least another $1 per YHOO share. Yes.......
Wrong time for an IPO with bear market starting in Asia. The Omen is upon us and world stock markets to get shredded next week. I exited all long positions around noon Friday. Hindenburg Omen is upon us. Hope you all got short or long the VIX. I am sorry I do have one lone long position and that is VIX calls. Have puts on 6 stocks and am short 5 including Yahoo. I see a massive correction before the resumption of the bull market. Much like 1987 but not quite as sharp but still very very painful.