IPOs

November 22, 2021

IPO Weakness

Recent IPOs had their fun in the sun in November. But could today’s pullback be a sign of weakness to come?? 💭 Here are a few charts. We’ll let you pick the verdict… 

Roblox opened 4.5% above Friday’s close today, but erased those gains quickly. $RBLX finished Monday down 10.76%, but still trades above $100 at $120.21. 

Rivian sank 8.16% today after the company and Ford Motors canceled their collaboration to build an electric car. 

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Egg Investors Try To Keep $CALM

January 3, 2024

Portillo’s plummeted 7.31% to begin the new trading week. 📉 $PTLO is now 23.5% off its high close from Nov 17.

Sweetgreen got off to a bitter start. $SG slipped 16.26% to close at its lowest price ever.

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Policy

December 22, 2023

Chinese Regulators Aren’t Playing Games

As if investors in Chinese stocks didn’t have enough to worry about, the government introduced a new wild card. 🤪

Beijing released draft guidelines designed to curb excessive gaming and spending among consumers. The proposed rules would require owners of online games to abstain from providing or condoning high-value or expensive transactions in virtual entities, whether by auction or speculative activity. Daily login rewards would also be banned, along with pop-up warnings to users displaying “irrational” consumption behavior. 🚫

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Earnings

December 20, 2023

General Mills Pushed Too Far

Consumer packaged goods companies have been passing higher costs through to consumers by raising prices and/or shrinking package sizes. Given the tepid demand, pricing power was their primary way to grow revenues. But it appears that some companies are approaching (or have hit) the limit of what consumers are willing to tolerate. 🛑

General Mills is the latest company to share those concerns via its second-quarter results.

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Earnings

December 21, 2023

C-Letter Companies’ Great Day

It’s a slower week in the markets, so it was slightly interesting that all of today’s top earnings movers seemed to start with the letter C. Let’s quickly recap their results. 👍

First up is Carnival Cruises, which reported another quarter of record results. The company’s adjusted loss per share of $0.07 beat expectations for a $0.13 loss, while a revenue jump of 40.60% to $5.397 billion topped the expected $5.295 billion. That was driven by a 54.70% increase in passenger-ticket revenue ($35.10 billion) and a 20.10% jump in other revenue ($1.886 billion). 🛳️

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IPOs

December 16, 2021

GoPuff Preps for IPO

Your favorite munchie-delivery service GoPuff is gearing up for an IPO next year. The company just raised $1.5 billion in its latest funding round at a $40 billion valuation.

The company’s latest round —‘Series X’ is what they’re calling it — is a convertible note from Guggenheim Partners. The round has not officially closed, but GoPuff was valued at $15 billion over the summer, so its latest round is kind of a big deal (no pun intended 😉.)

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IPOs

October 11, 2023

IPO Window Shuts On Birkenstock

Although the initial public offering (IPO) market is trying its best to revive itself, investors remain skeptical of new issues. Birkenstock, the market’s latest suitor, failed to attract first-day fanfare. 🥱

The German shoemaker expected to price its IPO between $44 and $49 per share, according to its initial Securities and Exchange Commission (SEC) filings. However, it ultimately priced last night at $46 per share, raising $1.5 billion and giving it a market value of roughly $8.6 billion.

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IPOs

November 18, 2021

Sweetgreen’s Sweet Market Debut

Sweetgreen is seeing a different type of green today after exploding in its market debut. 💚 💸

The salad chain popped over 76% as it tested investors’ appetites for yet another foody IPO. Sweetgreen is now valued at over $3.5 billion. $SG raised $364 million from the listing.

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IPOs

December 7, 2021

Intel to IPO Mobileye Unit 🚗

Intel announced its intent to take Mobileye, its self-driving car unit, public next year. The move will allow Intel to retain majority ownership of the unit, which could be valued at more than $50 billion.

You’ve probably never heard of it, but unlike major EV IPOs and SPACs this year, Mobileye has been around the block. The 22-year-old company pioneered adaptive cruise control and lane-keeping assistance using cameras on cars. In recent years, the company has built upon its foundational tech and moved into the wild west of self-driving vehicles. 🤠 Last year, Mobileye showcased its autonomous vehicle system.

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