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Funko Goes Public! And Stock Plunges!

Today Brian Mariotti, Funko’s Chief Executive Officer rang the bell at Nasdaq in celebration of its IPO!

 

This headline isn’t what you would expect to read, but there is a reason the stock plunged today. The initial public offering price was set to be $12, but the opening price ended up being $8, 33% below the initial offering price. According to Tom Kilgore of Market watch “The company disclosed Thursday that it cut its offering of Class A shares to 10.42 million shares from 11.61 million shares, as the IPO priced below the previously expected per-share range of $14 to $16. The maker of toys and licensed-focused collectibles raised $125 million in the IPO, before options granted to underwriters, compared with previous expectations that it could raise up to $185.7 million.”

If you are a true supporter of the brand, now is your chance to own a small piece of this pop culture empire, but is the risk worth taking? With prices being so low, maybe now is the time to get in! I know that I will be purchasing some shares, considering one share is less than buying one pop from a big box store. Congratulations to Funko on all of their success.

FNKO

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