I’m in Hollywood

As time went on, the Nasdaq exchange hall was already full of people, and the atmosphere became more and more hot.

Yahoo executives and employees, Morgan Stanley's underwriting team, guests attending the ceremony, media reporters from around the world, and exchange staff crowded the hall into a box of canned sardines, all of whom had to scream. Ask the people around you to make room so that you can barely move in the crowded hall.

Several large screens in the exchange were scrolling the financial news about Yahoo's listing information from major TV channels in North America, but the sound was completely obscured by the surrounding noise, like a silent pantomime.

As it approached nine o'clock, due to the chaos in the hall, Nasdaq Group CEO Frank Szabo had to personally bring a group of employees to maintain order at the scene. Ten minutes later, Yahoo CEO Ian Grenier was able to make his way through the crowd and into the media studio to deliver his IPO speech.

At the same time, Eric, Chris, Steve Mitnick, Tina Brown and other core executives of the Firefly system also began to gather at the front desk to prepare for the bell ringing ceremony at 9:30.

Since the earliest stock trading was entirely manual, corporate executives at the time would ring the bell on the day a company went public to announce that the company's stock was officially open for trading. After more than a century of development, the bell-ringing ceremony has become pressing the start button of an electronic trading platform.

A few minutes later, Ian Grenier also came to the stage after delivering his listing speech, and the clock in the hall passed 9:25.

When the personnel arrived, under the close attention of countless pairs of eyes inside and outside the exchange, Eric delivered a brief speech, and then, together with the others around him, pressed the orange button to start the transaction.

At the moment when the button was pressed, the prepared gun salute sounded in the hall, and the crowd spontaneously applauded and cheered. All the media broadcasting the news on the surrounding big screens all aimed their live broadcasts at everyone on the stage.

Outside the exchange, on the huge open-air screen of the building near Times Square, a close-up of Eric and others also appeared. At this moment, more than ten core members of the Firefly System on the stage became the absolute focus of attention.

Although brought to the stage by Eric, Cindy Crawford and Linda Evangelinsta consciously stood behind the crowd during the bell ringing ceremony.

At this time, feeling the fiery atmosphere around them, even if they were accustomed to seeing the spotlight for a long time, the two women felt a sense of embarrassment in their hearts. Cindy understands that this is probably the power of wealth. Some dazed Linda watched Eric take the lead and began to walk down the bell ringing ceremony platform, but with a polite smile, the puppets generally followed the crowd and walked down slowly.

The bell ringing ceremony seemed to start very quickly and end very quickly. However, no one left in the exchange hall afterwards, and Eric and the others did not stay in the crowded hall anymore, but went upstairs. A large conference room overlooking the entire trading floor.

It wasn't until she entered the spacious conference room that Linda's mind recovered.

The men all gathered around the conference table and began to rest and chat, while Cindy walked to the glass curtain wall with Tina Brown and Amy Pascal without any scruples, and looked down at the hall below. Linda glanced at Ari. K's figure, some want to get close, but still obediently followed Cindy and the others to the curtain wall.

Finally remembering that she had subscribed for 1.5 million shares of Yahoo with some fever, and looking at the bustling crowd in the lobby, Linda hesitated for a while before asking Tina Brown next to her, What's next?

Before Tina Brown could answer,

The crowd in the hall below began to focus their attention on a stock price display with obvious commotion, and some people shouted: It's down, -2.6%.

Linda's heart tightened, she looked over subconsciously, and recognized it for a while. Although she didn't know much about stocks, well, she was basically a financial idiot, but she still recognized that it should not be Yahoo's stock. Yahoo's stock symbol is yhoo, which she still knows. The stock symbol that fell 2.6% on the stock price monitor was aol, and the other stock symbols that also fell to varying degrees were not yhoo.

However, aol, AOL.

This seems to be his company too?

It doesn't seem right either, he just sold AOL's stock a few days ago.

So, what's the situation now?

Linda was puzzled, and Tina Brown next to her took the initiative to explain to the other women: These are the same type of Internet media stocks as Yahoo, and AOL wants to develop into an Internet media company, which is similar to Yahoo's. Eric gave up the company because of business conflicts. Yahoo's market share in the industry is too large, so its listing directly caused the overall decline in the share price of Internet media stocks of the same type.

On the other side, Cindy asked curiously: In this case, will Yahoo be affected?

This, Tina shook her head, and said in an equally uneasy tone, No one can be sure.

Several women couldn't help but become worried again. After a while, Linda asked in a low voice, Now, what is Yahoo doing, has it started trading?

Tina shook her head and explained, I'm inquiring about the price. This process will take about two hours, and the official transaction will take place after eleven o'clock.

Linda hesitated and asked, What is an inquiry?

Tina patiently said: It is the exchange that determines the official opening price of the stock based on the intentional trading prices given by sellers and buyers around the world.

Linda said: I also subscribed for some shares. Does that mean that I can also participate in, um, inquiry?

Yeah, Tina said with a smile on her face, you can call your stockbroker now and ask him to submit a sell price.

Linda was immediately moved. She felt that she could participate in a pretty big event, and she was still a little excited.

Well, be sure to quote a high price.

Not sure if $100 will work?

The little hand was just about to reach into the bag and take out the phone, but when she noticed that Cindy rolled her eyes at her next to her, she immediately dismissed the idea and stared back unceremoniously.

Although Yahoo's IPO stage stock subscription is for global investors, not anyone can buy it, but there is a minimum subscription threshold of 100,000 shares.

At an average offering price of $33, 100,000 shares would be worth $3.3 million. That amount of money doesn't seem like much to a large investment fund, even a wealthy investor like Linda. But for millions of investment institutions and sole investors around the world, $3.3 million is unaffordable for most people.

Including the 22.5 million greenshoe options, the 172.5 million shares issued by Yahoo were eventually subscribed by less than 300 investment institutions.

Many small and medium-sized investment institutions, within the scope of their own capabilities and risk considerations, often only buy tens of thousands or even thousands of shares, and individual investors have lower buying ability.

However, due to the large base of these small and medium-sized investment groups, the demand for a newly issued stock in the public investment group is often much higher than the stock issuance determined by its IPO. Once the supply exceeds the demand, the stock price will inevitably rise. Greatly improved. Therefore, many new shares will open at a much higher price than the issue price on the day they are listed.

After waiting patiently for half an hour, there was finally another commotion in the exchange hall below.

Several women stopped chatting and looked over together.

On a stock price display, the most basic pieces of information from Yahoo first appeared.

Trading symbol: yhoo; share issue price: $33.00; number of new shares issued: 150,000,000.

Then, the square behind the display lights up, and two sets of numbers appear: 41.00-43.00.

Although she has already made a judgment in her heart, Linda is still a little unsure.

Noticing that a pair of big hands unknowingly hugged her waist from behind, and a familiar breath came, Linda turned her head, only to find that Eric and others had also walked to the glass curtain wall.

When she was in the hall not long ago, Linda noticed that it was not a one-way glass. The women were all standing at the front. Eric was hugging himself at this time, but it was easy for the people below to stay behind. The reporters in the hall saw it.

Her body froze, but Linda quickly leaned back.

Anyway, he doesn't care, he is a little woman, so what is he doing.

But obviously, the crowd in the exchange obviously did not have the energy to pay attention to these people on the curtain wall on the second floor. Looking at the two sets of red numbers displayed on the screen, after a moment of silence, a burst of warm applause and cheers.

Seeing the reaction of the people downstairs, Linda finally settled down and leaned her cheek slightly to the man's ear: Eric, is this the opening price? Didn't it say it would take two hours, but it went up a lot?

Eric smiled and kissed the woman's cheek, shook his head and said, No, this is just the first round of inquiries, and it will continue in the future.

Linda felt Eric's kiss and shrank her neck. I couldn't help but look at the monitor downstairs, even if it was only calculated at $41, the 1.5 million shares I bought had already earned, um, um.

I haven't counted them, but there are obviously a lot of them.

Thinking of this, Linda asked in a low voice, Eric, in the next inquiry, the stock price should still go up?

Eric hugged the woman in his arms and looked down at the hall below. He didn't give a positive answer, but said, We need to look at the results of the next round of inquiries to determine the price trend.

In just the first round of inquiries, Yahoo's stock price jumped 24% on the basis of the issue price.

Although the next price trend is still a little worrying, it is certain that on the first day of Yahoo's listing, there will never be a tragedy where Facebook directly falls below the issue price in the original time and space. However, thinking of facebook, Eric turned around again, found Steve Mitnick, and said, Steve, is the technical team still in the computer room?

Except for the facebook in Eric's memory, since the establishment of the Nasdaq exchange in 1971, there has indeed not been a dog-blood incident where a company encountered a system downtime on the day of its listing. Steve Mitnick actually felt that Eric is a little worried. However, he is actually a cautious person in his bones. Feeling the good situation at this time, he nodded and said, I'll go take a look.

After Steve Mitnick's figure left, Eric turned his eyes to the hall below again.

The first round of inquiries took a long time and took half an hour.

However, the ensuing inquiry time has been shortened a lot.

Fifteen minutes later, the results of the second round of inquiries appeared on the monitors in the exchange hall.

46.00—49.00.

Compared with the lowest price of $41, the lowest price of $46 at this time directly raised Yahoo's stock price by 39% on the basis of the issue price, which is already a skyrocket.

Prior to this, the Yahoo team's boldest expectation for the company's stock price on the first day of listing was only about a 40% increase, but it was only the second round of inquiries, and the forecast data made by the Yahoo team in the previous period had been declared invalid.

However, no one at the scene showed a disappointed expression on their faces. Amid the applause and cheers in the hall again, Ian Grenier, Tina Brown, Katzenberg, John and Katzenberg stood by the glass curtain wall. · Chambers, Jeff Bezos, Victor McNally, Amy Pascal and all the core executives of the Firefly system also applauded involuntarily.

Everyone understands that on the basis of the sharp rise in the first round of inquiries, the result of the second round of inquiries also means that the price trend of Yahoo in the next few rounds of inquiries will only go up or down.

What happened next was not only within everyone's expectations, but also obviously beyond everyone's expectations.

In the exciting and fiery atmosphere around, time passed slowly and quickly.

After the results of the second round of inquiry were released at 10:15, the results of the third round of inquiry were released soon at 10:30.

49.00-51.00.

Immediately after.

Fourth round: 53.00-57.00.

Fifth round: 56.00-59.00.

Sixth round: 61.00-65.00.

Finally, at 11:30, the seventh and last round of inquiry results appeared on the big screen, and everyone was already in a state of shock and frenzy.

67.00—69.00.

After another burst of applause and cheers from the crowd in the exchange hall, representatives of Yahoo and the Morgan Stanley team began to urgently negotiate the final opening price based on the results of the last round of inquiries. The person in charge of the company also announced to everyone that the official opening time will be delayed to half an hour later, which is exactly 12 noon.

In the conference room on the second floor, they received congratulations from the on-site guests and Nasdaq executives. Except for Ian Grenier, Eric and his party did not leave the conference room and continued to wait patiently by the curtain wall. last moment.

Ultimately, Yahoo stock opened at $68.50 and surged to a high of $70.29 in an instant.

$70.29, a 113% surge relative to the issue price.

Yahoo's market value has also skyrocketed, reaching a terrifying $88.2 billion.

Looking at the already boiling Nasdaq exchange hall, Eric took a deep breath, reached out and patted Linda, who was also erratic in his arms: Hey, hurry up and call your stockbroker to clear the position. .

Don't. Although leaning against Eric's arms, Linda subconsciously raised her hands in front of her, like a little girl who was about to be taken away from a doll, or a small fan who had fallen into madness: You can still go up. Woolen cloth.