Recent IPOs are hot, don't sleep on $DPX$DBX recent IPO names have been hot, but don’t forget about Dropbox. Looks ready to break out of this wedge higher to $34
DBX trade ideas
Dropbox: Set Target: $40Dropbox, the tech unicorn, has finally IPO'd in the stock exchange. The IPO has so far crossed the neutral price of $30. However, given consumer demand, recent launch, as well as Dropbox's future after general public funding, I believe a long target of $40 is beyond reasonable. This is also true given how Dropbox positioned themselves in the market beyond traditional data storage. Dropbox is expanding through the use of APIs in comparison to what Amazon was doing to their cloud infrastructure.
first day of tradeAfter the first day of trade we can see the price of DropBox in a little bear channel. They have stopped right on the MA20.
Would be good to break USD 29.00 on Monday otherwise we could see more downside.
Short DropboxEven with Dropbox being evaluated at 8 billion, less than their 10 billion dollar evaluation in 2014, you should still short their stock. There are plenty of other cloud storage companies out there that are even integrated into platforms users use on a daily basis (google). In my mind the only way for Dropbox to succeed is if they create their own platform that attracts viewers on top of their cloud storage system, similar to how google is now. Dropbox currently is not profitable at the moment and i think will become less popular as google continues to grow.
$DBX Which way does it go ? Some popcorn stuff here on IPO day$DBX Sure looks like it wants higher . Watching for a flag break
