Exact Target - provider of 'interactive' marketing solutions (aka, junk mail etc?) was listed just last week. In just the first 5 trading days we've seen a spike high, 2 black doom-candles, and today, we have our first red close.
A red close...and it won't be the last.
In all seriousness, no, I don't truly expect it to hit zero, at least not in the near term. Yet, does anyone really know if this nonsense even makes a profit? Does it have a net cash in-flow? Or is it just a black hole for anyone who puts capital into it?
So whats the 'real' best guess target for ET? Absolutely impossible to say. Assuming the market can crawl up to sp'1550 across into summer, then ET would likely hold up okay, but by Autumn of this year, will this be struggling to hold into the low teens?
As ever, earnings are what matter, so..from a watchers point of view, lets just see what they post in the next quarter.
It will certainly be one to watch from time to time, but purely for entertainment purposes, as a reminder of the high volatility and arguably 'mystery' factor inherent in these IPOs.