Yup, the much hyped biggest US IPO ever is here. VISA is going public today and raise as much as 15 billion, easily surpass AT&T Wireless 10 billion IPO back in 2000 before being bought by Cingular. Some crazy things happened though, the previously proposed initial price of $37-$42 has been changed to $44. Also, when market open, the ask price is $250!!! can you believe that.. I'm glad no one put a market order for that otherwise he'll get so screwed.
Finally about 30-40 minutes after market open, it started to trade at $60, then go down to as low as $55. For now, I'm just gonna be on the sideline as I think the price is pretty high. I might jump in if it's around high $40. This is a bear market, I don't like risking my money by buying anything that's too high. I rather find other company to short or buy put option.
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