Not all IPOs turn out well (obvs) as more often than not, they're an opportunity for PE/seed investors and founders to cash out and pass the buck onto members of the general public AKA "the plebs"
Credit to Tim Fung for handling media around the IPO very well and playing the "sticking around for the long term card" and deciding not to sell significantly into the IPO. Also credit to Airtasker employees for taking up all of their allocations and sticking fat...a solid green tick for the company's culture.
For what it's worth I've personally used Airtasker a number of times over the last 5 or 6 years...always had a good result, although have noticed the fees (as a job poster) have climbed significantly over the years.
Like some others have said, and without disseminating the financials in the prospectus, I think this is a business with genuine LT potential, and seems to be led by a shareholder aligned founder/CEO, and aligned workforce, but it does appear that valuations (circa $2 now) appear stretched.
Lots of hype definitely seems to be baked into the shareprice....so those buying at these levels and hoping to make a quick buck should be reminded that 60+% daily gains can just as easily (and quickly) move the other direction.
PS...I scalped a quick 30% today and sold before the close (that was good enough for me!) - but good luck to folks who have the stomach to hold this in the short-medium term.
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