Euphoria around the Freelancer initial public offering (IPO) has waned this week. Freelancer had lost 15 per cent over the week by Friday morning. While a price of $1.10 is comfortably double the IPO price of 50 cents, it is a far cry from the high of $2.60 shares were trading hands at on the first day of listing in mid-November.
Qantas gave up 11.2 per cent on Thursday after outlining a pretax loss of between $250 and $300 million for the first half of this financial year. Investors were quick to depart Qantas as it is becoming more apparent that the war between Qantas and Virgin is becoming increasingly expensive, without a commensurate return.