So Funko revealed their Hulk POP! A few weeks back but now we have a video with the actual POP! Itself. There is still time to grab this box. It closes tonight at midnight. You can get it here and check out the video below. As always, spoilers ahead.
If you have had a chance to research Funko’s prospectus before their IPO, you might of thought the earnings were too good to be true. If you did, you weren’t the only one. Today, the law firm of Kirby McInerney LLP announced that it was opening an investigation of Funko, Inc. (NASDAQ: FNKO) concerning the Company and its officers’ possible violations of federal securities laws. If you are not aware, Funko commenced its IPO of 10,416,666 shares at a price of $12.00 per share on November 2, 2017. On November 3, 2017, the day after the IPO, Funko shares closed at $7.00, more than 40% below the IPO price. It was the worst opening day for an IPO in 17 years. It’s kind of crazy to think that the underwriters initially wanted to open at $14-$16. An article from Stephen Gandel over at BloombergGadfly gives you a great explanation of Funko’s “fun house accounting”. (more…)