Mayflower Advisors' Larry Glazer is discouraging investors from the tech space as more companies get ready to go public.
Mayflower Advisors' Larry Glazer sees trouble lurking in the market as more tech names get ready to go public.
"It's a bit concerning for investors. In particular, it's an ominous sign for the rest of technology," he said Tuesday on CNBC's"Futures Now.""These are largely technology companies. They have limited profitability — the size and the scale of which are enormous." "This is about the pipeline of deals that are coming to the market, many of which are really exciting companies," Glazer said."That's actually the problem because it comes at the expense of existing technology companies that are matured, that are already in portfolio managers' hands, that have to be sold. ... So, that massive supply may overwhelm the market."
"We want to be a little bit more patient," he said."We don't want to have a myopic view and just focus on one sector," he said.
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