The good news is that we are nowhere near 1999 levels in terms of Internet company hype and excessive valuations. The bad news is that we are seeing the same types of froth, just to a lesser degree, that we saw back then. More than a decade ago we were wondering how Yahoo (YHOO) was worth more than Disney (DIS) and the market eventually corrected that inefficiency (today’s values: Disney $76B, Yahoo $18B).
By Robin Wauters
Yandex, one of the leading Internet companies in Russia, this morning announced the pricing of its initial public offering of a little under 52.2 million Class A ordinary shares at $25.00 per share. The shares will begin trading later today on NASDAQ under the symbol “YNDX.” The offering would give Yandex a market cap of roughly $8 billion.
Trent Tillman submits:With investors still euphoric over the LinkedIn (LNKD) IPO debut on Thursday, attention turns to the next big Internet IPO scheduled for next week. Russian search giant Yandex N.V. (YNDX) is scheduled to price Monday, May 24th.
NakedValue submits:To be clear, as value oriented investors, we typically avoid technology stocks and recent initial public offerings. But for those investors who are comfortable paying a premium to own a stock on the forefront of a new trend, there may be reasons to be bullish on the latest hot IPO, LinkedIn Corp (LNKD).