The current market on Wall Street is driven by a number of outrageous factors. Europe and U.S. Debt, Fed Quantitative Easing, Hot IPOs, and large scale fraud are headlines each day.
Last night, an interesting IPO was priced, and it could be a bellwether, as its movement may be indicative of market conditions.
The business plan was good. This was going to be a moneymaker. The problem with the deal was optics. Rendering is a nasty business.
So are businesses with low costs of entry. One of the sure signs of bubble behavior is herd mentality that becomes contagious and self-reinforcing.