Mixi’s shares have dropped 28%

According to the WSJ, Mixi’s shares have dropped 28% since its astounding IPO. The shares have dropped because of Japan’s competitive online sector. This shouldn’t come as a surprise to anyone. There was a lot of hype around the Mixi IPO which caused its strikingly high share price. The snewstock price was inevitable going to come down. I just did not expect it to happen so soon.

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