Drugstore.com's IPO: Too Good
from the pyramid-schemes dept
Drugstore.com, of course, had a typical high flying IPO that made investors (and flippers) very happy. However, the article points out that plenty of analysts find this a little worrisome. The company has done next to nothing to prove itself, and still is worth over $3 billion. I really don't mean to sound like a pessimist, as I am a big fan of the internet and companies that are trying something different, but this keeps sounding more and more like a pyramid scheme. At some point, the bottom has to drop out.
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