(Reuters) - The highly anticipated issue shot up as much as 23 percent to $38.00 in early trade on the New York Stock Exchange. But the units then fell from the high and dipped below the opening price, indicating some investors sold on concerns of higher U.S. taxes or worries whether the ideal conditions of recent years would persist.
"The opening price was less than people had speculated," said Al Goldman, chief market strategist at brokerage A.G. Edwards. "Maybe people are concerned Congress is trying to raise taxes for this type of company ... People are wondering what's going on. Are the insiders selling because they think the party is about over?"
Read more at Reuters.com Business News
"The opening price was less than people had speculated," said Al Goldman, chief market strategist at brokerage A.G. Edwards. "Maybe people are concerned Congress is trying to raise taxes for this type of company ... People are wondering what's going on. Are the insiders selling because they think the party is about over?"
Read more at Reuters.com Business News
No comments:
Post a Comment