The ordeal of which was playing out rather harshly on tech stocks that week. The fear of an impending trade war sent Wall Street spiralling down, with major indices and stocks tumbling.Īt the same time, investors were processing the implications of an alleged data breach at Facebook that may have affected the outcome of the US 2016 elections. Prior to the IPO, President Trump and the Chinese government were in the midst of exchanging blows, as Trump planned to slap heavy tariffs on Chinese imports and China retaliated with tariffs of its own. While planned for quite some time, the Dropbox IPO took place at a time of instability on Wall Street. The Dropbox IPO: What affected the launch? The enthusiasm hadn’t waned by the following Monday, as the DBX stock rose an additional 7%, reaching an overall market cap of more than $13 billion. The initial price for each Dropbox share was set at $21, however, by the time it hit the open market, prices were significantly higher with DBX showing gains of more than 40% when the market closed on that Friday. This is not investment advice.Īs with all IPOs, the Dropbox stock was initially offered to early investors at a set price. Shortly after, the stock was made available for trading on the eToro platform. last year, was a tremendous success over its first two days of trading, as the DBX stock soared. The Dropbox IPO, which is the biggest for a tech company since that of Snap Inc. On Friday, March 23rd, 2018, file sharing and storage giant Dropbox went public, holding an Initial Public Offering (IPO) on the Nasdaq stock exchange (Nasdaq: DBX).
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