Chapter 1071: Soar
Over time, the Nasdaq exchange hall was overcrowded and the atmosphere became hotter.
Yahoo’s executives and employees, Morgan Stanley’s underwriting team, guests attending the ceremony, media reporters from around the world, and exchange staff crowded the entire hall like a box of canned sardines, and everyone had to scream Asking people around you to let out the gap, can barely move in the crowded hall.
Several large screens on the exchange scrolled the financial news of Yahoo's listing information on major TV channels in North America, but the sound was completely covered by the noisy surroundings, like a silent mime.
Near nine o'clock, due to the chaos in the hall, NASDAQ CEO Frank Saab had to personally bring a group of employees to maintain the order. Ten minutes later, Yahoo CEO Ian Gernier was able to pass through the crowd and come to the media studio to deliver a speech.
At the same time, Eric, Chris, Steve Mitnick, Tina Brown and other core executives of the Firefly system also began to gather at the front desk, preparing for a ringing ceremony of 9.30.
Since the earliest stock trading was entirely manual, the company executives at the time would ring the bell on the day of the company's listing to announce that the company's stock officially began trading. After more than a century of development, the ringing ceremony has become the launch button for pressing the electronic trading platform.
A few minutes later, Ian Gernier also came to the stage after the presentation of the listing speech. The clock in the hall had passed at 9.25.
When the staff arrived, and with the close attention of countless pairs of eyes inside and outside the exchange, Eric gave a short speech, and then, along with others around him, pressed the orange button that started the transaction.
At the moment when the button was pressed, the ready-made salute sounded immediately in the hall. The crowd spontaneously applauded and cheered. All the media on the big screen that rolled the news on the big screen all aimed at the live shooting on the stage.
Outside the exchange, on the huge open-air screen of the building near Times Square, there are also close-up pictures of Eric et al. At this moment, more than a dozen core members of the firefly system on the stage have become the focus of absolute attention.
Although Eric brought it to the stage, Cindy Crawford and Linda Ivangolinsta consciously stood behind the crowd during the bell ringing ceremony.
At this time, I felt the hot atmosphere around me, even if I used to see the spotlight very early, the two women also inexplicably produced some cramped feelings. Cindy understands that this is probably the power of wealth. Some of the fascinating Linda looked at Eric and took the lead and started to walk down the ringing ceremony. It was just a polite smile. The puppets usually followed the crowd and walked down slowly.
The ringing ceremony seemed to start very quickly, and the end was very fast. However, no one left in the hall of the exchange. Eric and others did not stay in the hall again. Instead, they went upstairs to overlook the whole. A large conference room in the trading floor.
Linda’s mind was restored until she entered the spacious conference room.
The men were all around the conference table and started chatting. Cindy had no scruples and walked to the glass curtain wall with Tina Brown and Amy Pascal. Looking at the hall below, Linda aimed at Ereli. Ke's figure, some want to go over, but still followed the Cindy several people to the curtain wall.
I finally remembered that I had subscribed for 1.5 million shares of Yahoo stock before I was a little hot. Looking at the bustling crowd in the hall, Linda hesitated for a while before asking Tina Brown next to her: "What next?"
Tina Brown hadn't had time to answer, and the crowd in the lobby below began to notice a bit of turmoil on a stock price monitor. Some people shouted: "Fall, -2.6%."
Linda's little heart is tight, subconsciously looking over, and some confusedly identified for a moment, although she has little stock knowledge, well, basically it is a financial idiot, but still recognize that it should not be Yahoo's stock. Yahoo's stock trading code is YHOO, which she still knows. The stock code that fell 2.6% on the stock price display was AOL, and the other stock codes that also showed different degrees of decline were not YHOO.
However, AOL, AOL.
It seems that it is also his company?
It doesn't seem right. He just sold AOL's stock a few days ago.
So, what is this now?
Linda was puzzled, and Tina Brown next to her explained to the other women at the moment: "These are the same type of Internet media stocks as Yahoo. AOL is trying to develop into an Internet media company, with Yahoo! In the event of a conflict in business, Eric gave up the company. Yahoo has the largest market share in the industry, so its listing directly caused the overall decline in the share price of the same type of Internet media stocks."
On the other hand, Cindy asked curiously: "In this case, will Yahoo suffer from it?"
"This, ah," Tina shook her head, and her voice was a little embarrassed. "No one is sure."
A few women couldn't help but worry again. After a few moments, Linda asked in a low voice: "Now, what is Yahoo doing and starting to trade?"
Tina shook her head and explained: "In the inquiry, this process takes about two hours. After eleven o'clock, it will be officially traded."
Linda hesitated, and asked: "What is an inquiry?"
Tina patiently said: "It is the exchange that determines the official opening price of the stock based on the price of the intent traded by sellers and buyers around the world."
Linda said: "I also subscribed to some stocks. Does that mean that I can also participate, um, inquiry?"
“Yeah,” Tina said with a smile on her face. “You can call your stockbroker now and ask him to submit the selling price.”
Linda immediately had some intentions and felt that she could participate in a very big thing, and she was still a little excited.
Well, be sure to quote a very high price.
Don't know if you can't do $100?
The little hand just had to explore the cell phone in the bag, but noticed that Cindy turned his eyes to himself, she immediately dismissed the idea, but still unknowingly went back.
Although the Yahoo IPO stage of the stock subscription is for global investors, but not everyone can buy, but has a minimum threshold of 100,000 shares.
At an average price of $33, the value of 100,000 shares is $3.3 million. This money seems to be nothing for large investment funds, even rich investors like Linda. But for millions of investment institutions and independent investors around the world, $3.3 million, most people can't afford it.
Including 22.5 million shares of green shoes, Yahoo issued 172.5 million shares, and the number of investment institutions finally subscribed to less than 300.
Many small and medium-sized investment institutions can only buy tens of thousands or even thousands of shares within their own capabilities and risk considerations, and individual investors have lower purchasing power.
However, due to the large base of these small and medium-sized investment groups, the demand for a newly issued stock in the public investment group is often much higher than the stock issuance determined by its IPO. In the event of a shortage of supply, the stock price will inevitably appear. Significantly improved. Therefore, on the day of the listing of many new shares, the opening price will be much higher than the issue price.
Waiting patiently for half an hour, there was finally another commotion in the lobby of the exchange below.
Several women stopped chatting and looked over together.
On the stock price display, the first few basic information of Yahoo appeared first.
Transaction code: YHOO; stock issuance price: 33.00 US dollars; new stock issuance quantity: 150,000,000.
Subsequently, the square behind the display shows that there are two sets of numbers: 41.00 - 43.00.
Although the mind has already made some judgments, Linda is still somewhat uncertain.
I noticed that a pair of hands unknowingly grabbed my waist from behind, and the familiar breath came, Linda turned her head and found that Eric and others all walked to the glass curtain wall.
When I was in the hall not long ago, Linda noticed that it was not a one-way glass. Several of them were standing in front of them. Eric was staring at herself at this time, but it was easy for the people below to stay. The reporter in the hall saw it.
The body was stiff, but Linda quickly leaned back behind her.
Anyway, he didn't care, he was a little woman, so much.
However, it is obvious that the people in the exchange obviously did not pay attention to these people on the second floor of the curtain wall. They looked at the numbers of the two groups of red dragonflies on the display screen. After a moment of silence, a burst of applause broke out in the hall. Cheers.
Seeing the reaction of everyone downstairs, Linda was finally determined, and the cheeks on the side of the cheeks came to the man's ear: "Eric, is this the opening price, not to say that it takes two hours, but has it gone up a lot?" ”
Eric smiled and kissed on the woman's cheek and shook his head. "No, this is just the first round of inquiry, and it will continue."
Linda felt Eric's kiss and narrowed her neck. I couldn't help but look at the display downstairs: even if I only calculated it according to 41 dollars, I bought the 1.5 million shares I bought, um, um.
Although not calculated, it is obviously a lot.
Thinking about this, Linda whispered again: "Eric, the next inquiry, the stock price should still go up?"
Eric embraced the woman in her arms and looked down to the lobby. She did not give a positive answer. She only said: "This requires looking at the results of the next round of inquiry to determine the price trend."
Just the first round of inquiry, Yahoo's share price rose by 24% on the basis of the issue price.
Although the price trend is still somewhat worrying, it is certain that Yahoo's listing on the first day will definitely not appear in the original tragedy of Facebook's direct fall below the issue price. However, when thinking of Facebook, Eric turned around and found Steve Mitnick, saying: "Steve, is the technical team still in the machine room?"
In addition to Facebook in Eric’s memory, since the Nasdaq exchange was established in 1971, there has not been a dog blood incident on the day of the company’s listing. Steve Mitnick actually feels Eric is a bit worried. However, he was actually a cautious person in his heart. He felt the great situation at this time. He nodded and said: "I used to look at it."
When Steve Mitnick's figure left, Eric turned his eyes to the hall below.
The first round of inquiry took a long time and took half an hour.
However, the next inquiry time has been shortened a lot.
After fifteen minutes, a second round of inquiry results appeared on the display in the exchange hall.
46.00 - 49.00.
Compared with the lowest offer of just $41, the lowest offer of $46 at this time directly increased Yahoo's share price by 39% based on the issue price, which is considered a skyrocketing.
Prior to this, the Yahoo team's biggest expectation on the first day of the company's listing was only about 40%, but only the second round of inquiry, it has already announced that the forecast data made by the Yahoo team in the early stage is completely invalid.
However, no one on the scene showed a disappointing expression on the face. In the applause and cheers in the hall, Ian Gernier, Tina Brown, and Kasenberg, John Money, standing by the glass curtain wall. All the core executives of the Firefly system, such as Perth, Jeff Bezos, Victor McNealy, and Amy Pascal, also involuntarily clapped their hands.
Everyone understands that on the basis of the first round of inquiry, the results of the second round of inquiry will represent the next round of inquiry. Yahoo's share price will only be high or low.
The development of the next thing is not only expected by everyone, but it is obviously beyond the expectations of all.
In an exhilarating and hot atmosphere, time flies slowly and quickly.
After the results of the second round of inquiry at 10:15, 10:30, the results of the third round of inquiry were released soon.
49.00—51.00.
Then.
The fourth round: 53.00 - 57.00.
Round 5: 56.00-59.00.
Round 6: 61.00-65.00.
In the end, at 11:30, the seventh round, the final round of inquiry results appeared on the big screen, everyone has fallen into a shocked and frantic mood.
67.00—69.00.
After a burst of applause and cheers from the crowd in the exchange hall, Yahoo representatives and the Morgan Stanley team began an urgent consultation on the final opening price based on the final round of inquiry results. In order to ensure foolproof, Nasdaq Marketing Department The person in charge also announced to everyone that the official opening time will be delayed until half an hour, which is 12 noon.
In the conference room on the second floor, I received congratulations from the on-site spectator and Nasdaq executives. Except for Ian Garnier, Eric and his party did not leave the conference room and continued to wait patiently on the curtain wall. last moment.
In the end, when Yahoo's stock opened at $68.50 and instantly rushed to a high of $70.29.
US$70.29, up 113% from the issue price.
Yahoo’s market value thus reached a staggering $88.2 billion in a flash.
Soar.
Looking at the already-sold Nasdaq exchange hall, Eric took a deep breath and reached out and patted Linda, who was also somewhat erratic in his arms: "Hey, call your stockbroker quickly, clear the position." ""
"Don't." Although leaning against Eric's arms, Linda still subconsciously raised a small hand in front of her, like a little girl who was to be captured, or a fan who had fallen into a madness: "Can you still rise? ""