Real Economics here, your one
and only source into the world of Australian Economics.
At around 12:45pm today share
prices in Bando Industries dipped, the first time since the company went public
almost a week ago. The cause behind the minor fall in price was the announcement
by Ritchie Holdings, that he and his firm had launched a new blog, due to the
immense pressure placed upon them by the “new kid of the block”.
By the close of trade stocks
for Bando Industries had risen back up and finished the day with a modest 1.42%
rise in price. The rise was due to a press release from the company stating
that more time and effort would be placed into their already booming blog.
CEO Martin Bando stated that “the
unprecedented move by Ritchie Holdings to move to a new hosting site had not
been forecasted”. Bando continued in his press release to say that “although
there are two players now, Bando Industries still holds a complete monopoly on
the so called blogosphere”.
The Ritchie Holdings IPO
which occurred yesterday has been dubbed by many economists as a “failure”.
Data from today shows that it has been one of recent history’s worst initial
public offerings and the only dispute is which is worse, Facebook or Ritchie
Holdings? xoxo Real Economics.
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