Alibaba came public in 2014. Snap, and it went off like a snap, without a hitch. Believe me, it could have been dreadful. It could have been like the facebook deal. Boo which caused tremendous concern about the entire underwriting process. It could have been like twitter, which was way too hot, too soon. It could have been like zinga or groupon, two deals that spiked as only a small amount of stock was offered, socalled sliver deals and then cost aftermarket buyers loads of money. Instead the snap deal went off pretty much like clockwork. Congratulations, New York Stock Exchange. Causing nary a hiccup for the rest of the market. Dow sinking 113 points. S p backsliding 0. 59 . Nasdaq declining 0. 73 . The stock of snap, the company that has pioneered social picture messaging opened up at 24, a pleasant, not too hot, not too cold, gold i locks like 7 premium to its 17 ipo price. It went smoothly and while you may regard the stock as hopelessly overvalued, it could have played havoc with
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