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IPO Warriors IPO Preview for July 19 – July 23, 2021

July 19th, 2021

Alright, so I’m on vacation right now, so gonna hammer these out rapid-fire… hope there’s still some value in this for you all…

HCW Biologics (HCWB) – July 20, 2021 | 5.6M Shares
Biotech with a phase II candidate for leukemia, generally I stay out of biotech IPOs… pass.

Gambling.com (GAMB) – July 20, 2021 | 7.5M Shares
Digital marketing, referrals, and spread comparison for gambling sites: profitable with positive free cash flow, and rapid revenue and profit growth… low float on top of all that: I like this one.

Twin Vee PowerCats (VEEE) – July 21, 2021 | 2.8M Shares
Will ultra-low float be enough to power this EV boats manufacturer’s IPO into a rocketship? Possibly, but a bit risky given that it’s an up-listing from OTC markets ($TVPC)with some confusion over how the OTC shares will convert to the NASDAQ shares… I’m not convinced it will run, but it might. Would rather wait and see if it drops off the debut and play the rebound or otherwise just sit it out.

CS Disco (LAW) – July 21, 2021 | 7M Shares
SaaS for Legal services – nothing too sexy, but low float and decent financials, just not very recognizable to retail investors, so could turn into a stuck position on a thinly traded stock. Think I’ll pass

Kaltura (KLTR) – July 21, 2021 | 15M Shares
Second try at an IPO for this video communications platform for businesses. Might do well off the re-emerging Covid scare, combined with accelerating growth, but might get over-priced as well.

Paycor (PYCR) – July 21, 2021 | 18.5M Shares
SaaS for human capital management (payroll, benefits, employee engagement, etc.) – lots of competition in this space and rather slow growth. Pass.

Elicio Therapeutics (ELTX) – July 21, 2021 | 12.5M Shares
Early stage cancer biotech – no thanks.

AbSci Corp (ABSI) – July 21, 2021 | 12.5M Shares
Synthetic biology for drug discovery – sounds cool, but ZY and DNAY performed rather poorly on their recent debuts, so I wouldn’t expect this one to be any better. At least not worth risking it.

Instructure Holdings (INST) – July 22, 2021 | 12.5M Shares
Virtual instruction platform for K-12 schools and universities operating in over 90 countries: solid growth but operating at a loss. If Covid re-emergence fears are running high by mid-week, then it could get some traction, and not a bad business for long term either. The float is low, and wouldn’t take too much to make it run if the media picks this one up, but not sure if it carries enough retail brand recognition to really get up and out the door.

Zevia (ZVIA) – July 22, 2021 | 14.3M Shares
Healthy softdrinks with loyal customers. This one could do pretty well, especially for a Day 2 run off the overnight media cycle.

Ryan Specialty Group (RYAN) – July 22, 2021 | 56.9M Shares
Specialty products for insurance brokers/agents/carriers with a high float.
Boring. Next.

Couchbase (BASE) – July 22, 2021 | 7M Shares
This one could do well – it’s a growing database management system (similar to MongoDB) with a low float and rapid growth, despite being unprofitable. I’d be interested in this one if the market has warmed up by the end of the week, but if not, it could be a bad one to play in a cold market.

Zenvia (ZENV) – July 22, 2021 | 11.5M Shares
Not to be confused with Zevia, which debuts on the same day, this is a Brazilian customer experience platform that recently reduced it’s IPO size, so that’s usually not a good sign to begin with. Given limited retail brand recognition in the States, and I’m not gonna stick my neck out for this one.

VTEX (VTEX) – July 22, 2021 | 19M Shares
Online commerce services for the Latin American market – growing revenue and gross profit, but operating at a loss. The valuation is pretty generous, and though the float is not particularly large, it’s not so low that it stands out as a target for low-float traders. Might do well, might not – probably won’t get involved with this one myself.

Core & Main (CNM) – July 22, 2021 | 34.8M Shares
Something boring about Industrial Distribution, which is probably a great, solid, stable, safe business for investment banks to get behind, but not very exciting for day traders looking to make a quick profit. Pass.

Outbrain (OB) – July 23, 2021 | 8M Shares
Adtech company that shows ads for related content at the bottom of articles on over 7,000 popular websites. It’s often compared to Taboola, which is going public via SPAC (IACA), and the share price for the SPAC have not experienced any significant pop on the news. This tells me the market isn’t too excited about content-referral companies, so this one is a pass for me.

Ocean Biomedical (OCEA) – July 23, 2021 | 8M Shares
Pre-clinical biotechs are pretty much always a pass for me, and this one is no different.

Candel Therapeutics (CADL) – July 23, 2021 | 6M Shares
See notes above on all the other biotechs debuting this week. At least this one is just 6M shares, but not gonna try to play this one as a low float play.

Xponential Fitness (XPOF) – July 23, 2021 | 13.3M Shares
If Mark Wahlberg couldn’t drum up enough excitement to get FXLV to run up off the debut, then I don’t know what it would take to push this one into any kind of run. Gonna take a flier on this one as well.

Note: I am not a financial advisor, and definitely not a licensed one – I’m not giving any financial advice here or elsewhere: this is purely for informational purposes. I may very likely take a position in some of the equities mentioned in this newsletter within the next 72 hours. Trade your own trade, and good luck out there Warriors!

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