The Market Is on an Epic Bender: Be Careful Out There We ve entered a time of reckless abandon with trades - and it s dangerous. Stocks quotes in this article: UBER, WNW
It s dangerous out there right now. The market is on an epic bender. You may not see it in the broader markets, but it exists underneath.
Not since the dot-com era have I seen so many crap companies double, triple, or go up 10-fold in days. While this may not be an acceptable term, it is accurate, in my view. These are companies with virtually no underlying business, revenue, or competitive advantage. In fact, most shouldn t be public but only exist as a public entity so insiders can cash out to bagholders.
Wunong Net Technology Announces Pricing of Initial Public Offering
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SHENZHEN, China, Dec. 14, 2020 /PRNewswire/ Wunong Net Technology Co. Ltd. ( Wunong or the Company ) (Nasdaq: WNW), an e-commerce company using an innovative platform to sell a myriad of food products, today announced the pricing of its initial public offering of 5,000,000 shares of its ordinary shares at a price of US$5.00 per share to the public for a total of US$25,000,000 of gross proceeds to Wunong. In addition, the underwriters have purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550 for a total of US$29,999,550 in total gross proceeds from the offering.