Quote:
Originally Posted by Shap
I believe the debt is from their acquisition of friend finder.
|
They had a net loss of 43 Million just over the last 12 months. Sure their 300+ million in debt is mostly from their acquisitions, but even with out that the company is hemorrhaging money. I feel deep down inside they know its crashing, its going to all go under soon enough and some kind of way the CEO, owners, board members are using this ipo to make one big cash grab before the ship sinks, and of course screw the idiots who invest in the stock. I would bet anything they will be a penny stock or delisted, in bankruptcy protection or something in the next 1-3 years.
Look at the volume right when it opened:
That was probably Lars and Andrew cashing in on everything they had before it all goes to shit.