Fly News Breaks for December 19, 2019
BOX, CLDR, DBX
Dec 19, 2019 | 10:10 EDT
Don Bilson, who heads Gordon Haskett's event-driven research, noted earlier that Dropbox (DBX) shares have been trading almost $4 below the company's 2018 IPO price recently he thinks "it could draw some special sit interest, much like we have seen at Box and Cloudera." Dropbox is growing faster than those two companies and also sports better margins, but still only trades for around 3.5x forward sales, noted Bilson. "There may be a few other busted tech-y IPOs that can tell similar stories as DBX but this is the one that was making new lows last week and the one that we've taken an interest," Bilson stated earlier in his note to investors. In morning trading, Dropbox shares are up $1.32, or 7.7%, to $18.52.
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