Here’s the headline news from Friday's Palo Alto newspaper. It seems that a local high school, St. Francis, invested $15,000 in SnapChat when it was just starting. The high school sold out at the $17 IPO price for a cool $24,000,000. Kind of a shame that it didn’t hold on just a couple more days?
I have a feeling a few school boards will be getting some very bad ideas based on this article. Incidentally, it looks like the value of those shares would be $40,000,000 as of this writing, not even two full trading days as a public firm.