analysts would never admit they are wrong. They were talking about the multiples are so high so that qr was doomed to fail. This has successfully deter the retail investors from buying. They were able to push down the initial price of the float since retail investors were not squeezing the institutional investors out. RETAIL INVESTORS SHOULD BECAUSE THEY GET 10CENTS OFF NO MATTER WHAT THE PRICING OF THE IPO IS.
Now they are blaming the green shoe and saying that it's the green shoe that plays the role of qr's share performance. However green shoe will only be triggered if the price is below the floating price. While blaming the green shoe, they maybe load themselves up. Again to deter the retail investors from buying and subsquently push the price up.
When the green shoe period ends, the instos have already finished buying. Then they probably come up with recommendations that the QR is gonna grow and management is so good, it's definitely long term growth stock etc.....to lure the mum and dad retail investors to buy and push the price up for them.
It's the trick they always do.
QRN Price at posting:
$2.80 Sentiment: None Disclosure: Held
