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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

3/23/18

New IPO, Dropbox (DBX) is the diamond of the day. The stock is up 39% after being priced at $21 a share, the biggest tech IPO in more than a year. The San Francisco-based company is a free service to share and store photos, music and other large files. With the IPO, the company now has a market valuation of $12.67 billion. Dropbox has yet to turn a profit, but now that it's a public company it may be under pressure to quickly trim its losses.

Profit taking in the chips. DRAM maker, Micron (MU) is down 7% following better than expected earnings. Micron beat earnings by 8 cents, sales rose 58% and the company raised guidance for the current quarter and received four upgrades with price targets as high as $100, but the stock is coming under selling pressure after a 40% rally over the last two months.  

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.