Thursday, February 23, 2017

Berlin's Rocket Internet Is Not Doing Well After Major Investor Cuts Stake (RKET.DE)

"Our proven winners generated aggregated net losses of €442 million" ($568 million)

-Rocket Internet prospectus via "How Do You Say 'Dot-Com Crash' in German?"

The company priced its IPO at 42.50 euros on October 1, 2014.€17.78 -3.56 (-16.70%)

From Reuters:

Shares in Rocket Internet (RKET.DE) fell as much as 14 percent on Thursday after major investor Kinnevik (KINVb.ST) sold half its stake in the German e-commerce company as the two increasingly becoming competitors.

Sweden's Kinnevik, which clashed with Rocket last year over the valuations of some of their joint investments, sold a 6.6 percent stake in Rocket at 19.25 euros per share late on Wednesday, netting 209 million euros ($220 million).

At 1155 GMT, Rocket shares were down 13.1 percent at 18.55 euros, off an earlier 2-1/2 month low of 18.275 euros....MORE
Previously:
When A Company Issues A Press Release At 11:40 P.M., It's Usually Not Good News (Rocket Internet: RKET)
Rocket Internet May Have A Proven Winner (RKET)
"Tracking HelloFresh’s Growth"
Rocket Internet Struggles to Prove Its Profits Can Take Off (RKET.GR)
Whoa!! Germany's Rocket Internet May Not Be Valued Correctly
Hey, One of Rocket Internet's 'Proven Winners' May be Coming Public (RKET.GR)
Climateer Line of the Day: Venture Capital Economy Edition