Newly public companies Snap SNAP and Blue Apron APRN are not valued correctly.
That’s the assessment of Kevin Schultz, chairman of Triad Securities, who noted that valuations become stretched as private equity investors “want their cash.”
Shares of Snap and Blue Apron have fallen below their IPO prices.
He said companies like Uber and Airbnb haven’t debuted on the public markets because they can get adequate funding in the private markets.
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