The Globe.com ipo lost alot of money for investors.I am speaking, of course, of theglobe.com ( TGLO), an essentially worthless business enterprise that has lost 65% of its value in the last five months, yet at its current price of barely 13 still remains grotesquely overvalued.
When theGlobe.com went public on November 13, 1998, its stock jumped a then-record 600% in its first day of trading. The company set the offer price at $9 a share, but the stock opened at $87. Shares of theGlobe.com rose to a high of $97 during its first day of trading before closing at $63.50.


The company raised $27.9 million in its IPO, and its market cap was valued at $842 million. But less than two years later, in August 2001, theGlobe.com's stock was delisted by the Nasdaq stock exchange for failing to stay above $1 per share. Yikes