There will always be stocks for gullible people. I remember when they IPO’d the national telecommunication company in my country. You were practically bombarded with ads from all sides to buy shares. My stance was that if they have to peddle the stock to the public that way, they probably did not find sufficient interest in professional circles for a reason.
The stock was then IPO’d at about €15 and shot up to over €100 in a few months. My coworker was quite thankful later that I frequently reminded him that the overall evaluation of the company only supported a value of about €10 per share. He sold at €100. It peaked at €102, and then fell down to €12 or €13. Over the last 30 years, it managed to slowly climb to €22 now, with no more significant peaks.
There will always be stocks for gullible people. I remember when they IPO’d the national telecommunication company in my country. You were practically bombarded with ads from all sides to buy shares. My stance was that if they have to peddle the stock to the public that way, they probably did not find sufficient interest in professional circles for a reason.
The stock was then IPO’d at about €15 and shot up to over €100 in a few months. My coworker was quite thankful later that I frequently reminded him that the overall evaluation of the company only supported a value of about €10 per share. He sold at €100. It peaked at €102, and then fell down to €12 or €13. Over the last 30 years, it managed to slowly climb to €22 now, with no more significant peaks.