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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

4/3/18

Spotify Technology (SPOT) is public. The Global music-streaming giant cane public today up 18% from the pre IPO pricing, but down 9% from its first trade. The company is using a so-called direct-listing process. That means it will let existing shares float publicly without offering any new shares on an exchange and without an underwriting bank to help buoy its stock price in the open market. Why? Spotify wanted to democratize the process and they didn't need to raise fresh money through the offering as is often the case with an IPO.

Good news, your stock may get taken over. Bad news, it may get taken over below the current market price. Viacom (VIAB) is down 3% on media reports that CBS is prepared to acquire the cable network and movie studio owner for below market value. Previous analyst reports have speculated that a deal would come at a premium to Viacom's share price. Sources told Reuters and CNBC that CBS chief executive Leslie Moonves would stay on for at least two years at the combined company.

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.