Betting on an IPO – Visa, Inc.
I am not a gambling man, mostly because I suck at the usual gambling games. However, today I am pursuing a gamble on the stock market which in retrospect is probably a stupid move on my part. I may lose money or I may gain money, but I decided to gamble on Visa’s IPO. They are going for $44 bucks a share, but by the time it reaches the market it will probably be up to $65+ a pop so I have decided to wage a limit order of $75 for three. Hopefully, within the next 15 minutes I will see how I do.
Update 7:44 AM PST: I should of waited to the order as the price went down close to $55. My order was placed at $59.50. Though the price is volatile as I write this I feel the pain of overpaying for the shares.
Update 3/21/08 12:40AM PST: It seems I spoke too soon. Visa was up $7.74 today. Unfortunately, if I were to have invested when it was at $56 then I could have made a lot more. So goes life.
