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The $756 million Dropbox Inc. (Nasdaq: DBX) initial public offering was a huge success, soaring 35% higher than its $28.48 debut price on the day.
It was the biggest, richest tech IPO since Snap Inc. (NYSE: SNAP) shares hit the market last year, and it has everyone "talking IPO" again.
What is it about a Silicon Valley IPO that makes investors go all starry-eyed?
I mean, I like unreasonably large piles of money as much as the next guy… but overhyped IPOs of the moment just aren't the way to make a pile yourself.
Big-game IPO investing, where it's even possible, is almost always a loser for anyone who isn't an underwriter, institution, or corporate insider.
In fact, it's much worse than that: If you do somehow manage to get allotted shares of the Next! Big! Deal! …
…you're probably about to be taken for a ride.
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