Editor's Note: Below is a chart and brief excerpt from today's Early Look written by Hedgeye Tech Sector Head Ami Joseph. Click here to learn more.
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The silly season in software IPOs will only get worse from here. There are ~300 companies in the private realm worth more than $1b and they are looking at Slack’s kazillion times revenue multiple, or MeDulLA oblongata’s successful heap of dung piled onto IPO investors, as a signal-fire indicating it is time to run every piece of you-know-what up the IPO flagpole. |
