Square will start trading today on the NYSE at 9 usd per share, on opening. This gives it a valuation of 2.9 Billion usd.
It's the Jack Dorsey company, or was, now that he's back at Twitter.
It lost 54 million usd in Q3 2015, a higher loss y-o-y and they've yet to make a profit, although that doesn't really bother us. But the valuation does.
It's a mobile payments company (www.squareup.com) largely at retail point-of-sale for Small businesses. Big deal - we've seen a 100 of these types of companies.
So what's getting Square the profile and huge valuation?
The presence of Jack Dorsey. And if you want a view....that's 2.9 BILLION of madness.....enough already.
UPDATE - It opened today at 11 Dollars 20 Cents. Range was 11-13 Dollars but priced at 9 Dollars. So this is real positive. Still makes no sense though....but remember, it has to CLOSE over 9 Dollars.
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