The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The author is a Reuters Breakingviews columnist. The opinions here are his own.
Public stock-market investors have lassoed Square to tame the unicorn, that Silicon Valley species of private companies worth more than $1 billion. Jack Dorsey’s payments firm has priced at $9 a share, below the $11-to-$13-a-share range indicated two weeks ago. The company’s two-timing chief executive, rising competition and substantial losses provided ammunition for old-school mutual fund managers demanding big discounts to lofty private valuations.
By Kevin Allison and Antony Currie
The author are Reuters Breakingviews columnists. The opinions expressed are their own.