Blackstone 52-week Low Watch: A New Low

By Keith Hahn

Blackstone plunged over 3% and hit $21.30 this morning, pushing well into new low territory since its IPO. Without fearing even the most expensive crabs, Blackstone played “just the tip” with the $21-$22 range earlier in the week and subsequently decided to plunge deep into new, lower territory.
It’s only a matter of time before Blackstone attempts to muster up some good will by claiming that its share price is tumbling for the sake of greater national interests. China has lost over $800 million on its $3 billion investment into the Blackstone IPO so far.
In other misguided IPO news, Fortress is healthily above its 52-week low of $16.05, but heading back in the direction of new depths, down over a percent today at $17.31. Fortress’ 52-week high ($37.00) was almost double its IPO price of $18.50.
How Low Can Blackstone Go? [DealBook]

Comments (6)

  1. 1
    Posted by MG | September 7, 2007 at 11:28 AM

    That’s about $0.60 per Chinese citizen, for what that’s worth.

  2. 2
    Posted by Random Banker | September 7, 2007 at 11:31 AM

    I’m in the $15 March 08 puts…. So you know anywhere close to that would be good by February.
    http://seekingalpha.com/article/43677-blackstone-is-a-dog

  3. 3
    Posted by Anonymous | September 7, 2007 at 12:06 PM

    Fortress did not IPO at 37, it traded there on the first day. It actually is doing much better than Bstone as it is almost flat to its IPO price

  4. 4
    Posted by R Finkel | September 7, 2007 at 2:03 PM

    Schwarzman is Citron, Citron is Schwarzman…

  5. 5
    Posted by Anonymous | September 7, 2007 at 8:15 PM

    Yeah, or Fortress was just dramatically underpriced at IPO….

  6. 6
    Posted by maria bartiromo | September 7, 2007 at 11:21 PM

    i had crabs once

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