Newmark’s “friends and family” offering seemed like manna from heaven. At $18 or $19 a share, it was a sizable discount from the original high of $22 that the firm’s executives boldly predicted the stock would trade at once it hit the opening bell. While all of those figures were eventually lowered, a number of brokers and executives at the company opted in, buoyed by CEO Barry Gosin’s infectious enthusiasm. “Barry owns a bunch of […]
source https://therealdeal.com/issues_articles/real-estate-firms-valuation-inflation/#new_tab
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