This week features a full slate of IPOs with a blockbuster Direct Listing to showcase the slate.
ESports Entertainment (EBET) – rescheduled to 4/15/2021
InfoBird Co (IFBD)
Alkami Technology (ALKT)
Karat Packaging (KRT)
Agilon Health (AGL)
ESports Entertainment (EBET)
Coinbase (COIN) is the most notable IPO of the week, as the world’s largest crypto wallet exchange goes public via a direct listing. With an expected share price set to debut above $350, many less wealthy investors will be waiting to buy fractional shares after the initial debut. Even without this, the hype and promotion around Coinbase is almost certainly going to provide ample demand to send this stock upward from the debut.
Last week, we saw the low-float phenomenon drive little known UTME from a debut price of $11.40 all the way up as high as $107.00 on a Day 2 rally. Day traders have been on the hunt for the next low-float play ever since, with eyes set on EBET (2M shares), IFBN (6M shares), and KRT (3.9M shares) for possible repeat performances. Shares of EBET and IFBN were offered on WeBull (via ClickIPO), and EBET shares sold out very quickly, whereas IFBN shares have been available as recently as 4/12/2021, indicating less demand.
We also have been informed that shares of APP are being offered to ETrade users for prospective allocation requests, which has typically indicated a weak likelihood of a debut spike when those allocations have been granted.
The TSP IPO is worth keeping an eye on, as interest in self-driving vehicles has been hot recently, though the past month has seen the Electric Vehicle and related companies cool off a big: including battery and LiDAR technology companies.
Reminder: The content in this email is not meant as financial advice, and is for informational purposes only. Trade at your own risk.