June 7, 2012
In today's edition of "Talking Stocks," Austin covers what has quickly become one of the market's most hated stocks: Facebook. Many investors are saying that Facebook has forever tainted the well for tech IPOs, and are pointing at Kayak's decision to push back their public debut as evidence of this.
But is Kayak really a victim here, and is it really Facebook's fault? Austin thinks otherwise. Sure, Facebook didn't help Kayak's case, but there are other influences here as well. There is Morgan Stanley, a track record of recently botched tech IPOs, the competitive landscape they'd be entering into, and the fact that the company has dragged its feet by having their IPO documents on record four times longer than the average company. Ultimately Kayak not wanting to go public in the wake of the Facebook disaster may have some influence here, but it really just seems like the straw that broke the camel's back.
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