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Articles tagged with: shareholder

Pandora’s IPO Raises Again, To $16

After we had just covered Pandora’s IPO raise from $7-$9 a share to $10-$12 a share, the company has just raised the price to $16 per share (nearly double of its original offering). According to Chris Nerney from IT World, this is an old Wall Street trick to raise investor enthusiasm.

Nerney argues that this is a tactic to make Pandora seem like an extremely desirable investment, whether it is or isn’t. This opens Pandora’s box (so to speak) on the first day of trading and will cause investors to pay a high price of about $30 to $40 a share. It is also likely that the stock may dip down to a low $20 in the coming weeks.

Walgreen Buys Drugstore.com For $409 Million In Cash

Walgreens was founded in 1901 by Charles Walgreen Sr. Walgreen purchased the Chicago drugstore where he had worked as a pharmacist. His ambition fueled the start of the drugstore chain and has expanded since. About 100 years later, Walgreens opened it’s 3,000th store. Walgreens was also the first drugstore chain to offer prescription labels in multiple languages, across the nation. Today, you can pick up your prescription in any one of 14 different languages.

The well known drugstore has announced this morning that they will buy the online retailer Drugstore.com for 409 million dollars in cash. Those who previously had stock in Drugstore.com…