Quote from S2007S:
I really dont understand the hype behind this IPO.
Ok this is the deal on Fortress, I happen to be in the know about them.
This is a serious Private Equity firm that actually invests for long period of time. Unlike the bulk of PE firms, they do not just LBO firms, skim them of money, throw on debt and then resend public so that they can dump the shares (Hertz anyone?).
Look at Fortress's track record of taking their companies to IPO. They almost never sell their share, nor do they intend to for at least a decade. A good strategy has been to simply buy whatever they send IPO and wait a few months. The stock almost always appreciates and has good fundamentals. I suspect they may also support the stock price.
They recently took Genesis Lease (GLS) public. Take a look at the chart.
These guys are one of the top PE firms out there and are not playing BS games like the rest. They pick their assets wisely and know what the f**k they are doing. So anyone who knows the arena wants a piece of their IPO and their assets, some of which are still private.
It's a no brainer, even intraday. Buy and hold & buy the dip. The big boys will be trying to shake weak hands the whole time, but the only real sellers are the short-term hedge funds and I don't think they got much of a piece of this.