IPO Revival In 2024: Plaid, Chime, And Kim Kardashian's Skims Among Potential Market Movers
Portfolio Pulse from Neil Dennis
The IPO market is expected to rebound in 2024 after a downturn, with notable companies like Plaid, Chime, and Skims potentially going public. ARM Holdings, Birkenstock, Kaspi, Amer Sports, and BBB Foods have seen successful IPOs recently. The Renaissance IPO ETF has also performed well. Market conditions are improving, but volatility may increase due to the presidential election.
February 20, 2024 | 3:51 pm
News sentiment analysis
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POSITIVE IMPACT
ARM Holdings raised $4.9 billion in its IPO, with shares now 150% above launch price.
ARM's significant over-performance post-IPO indicates strong investor confidence and market demand for its shares, likely leading to continued positive short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Amer Sports raised $6.4 billion in its IPO, with shares 23% above IPO price.
The significant premium over the IPO price for Amer Sports indicates strong market demand and investor confidence, likely leading to continued positive momentum.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Birkenstock Holding raised $1.5 billion in its IPO, with shares still 7% above its IPO price.
Birkenstock's ability to stay above its IPO price in a volatile market suggests a stable investor base and potential for further short-term gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Renaissance IPO ETF is up 2.3% in 2024, following a 46% gain in 2023.
The ETF's consistent performance, especially following a significant gain in 2023, indicates strong market interest in IPOs and potential for continued growth.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Kaspi raised $18 billion in its IPO on Jan 19, with shares nearly 4% higher than launch price.
Kaspi's successful IPO and its shares' performance indicate a positive market reception, suggesting a bullish short-term outlook.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
BBB Foods raised $2.3 billion in its IPO, with shares up 15.5%.
BBB Foods' strong post-IPO performance suggests positive investor sentiment and potential for further short-term gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80