Private Placement FalloutCantor Fitzgerald's institutional investors who just locked in shares at $1.75 must be absolutlely livid right now - immediate 25% mark to market loss. Having been on the institutional buyside, I can guarantee the research analysts who convinced their portfolio managers to participate in that deal are getting an ear full right now.
I am surprised Cantor's research analyst hasn't put out a note since its initiation in May. Having also spent many years doing sell side equity research, everyone from the bankers (who originated the deal), to the sales reps (who stuck their clients in the placement), to the equity research analyst (who's supposed to be promoting the stock) are undoubtedly hearing it from their clients.
Not necessarily actionable insight, just thought it might be interseting.