Low Float IPOs for Tomorrow (9/15/2021) …
September 14th, 2021
We’ve got a full slate of at least 7 IPOs tomorrow, but there are 3 I’ll be especially watching for low-float plays, including one that was not on the calendar at the start of the week. Let’s jump in!
EzFill (EZFL) – 6.25M shares
This one is weird: almost comical in the business model (an app for delivering gas), but it’s been getting some buzz on Twitter, and the low float could be enough for it to get pumped by trading groups. We’ll have to see what kind of retail allocations traders report tomorrow morning, and if we do see any premium in the debut price, I would expect it to get dumped. This might run, but I might have to miss it: have other trades I’d rather be stuck in if needed. The price range is expected to be about $4.00 any lower and maybe worth a chance, above that, I dunno. I have an odd feeling that this one is weird enough to attract some attention for a day and push it up a point or two, but kinda shaking my head at the prospect of this one running, and may just have to watch and laugh from the sidelines if it does run.
Pasithea Therapeutics (KTTA) – 2.9M shares
This one was rescheduled from about a month ago: a biotech that is repurposing ketamine for therapeutic use, with a seriously low float that could make this one primed for some attention from social traders. If there’s no volume, this one will get stuck, so I’ll be watching to see if we get a debut below the IPO price, and if we do get a drop off the open, consider starting a position. The price range is set at $5.00-$7.00 : below $5 this could be fun: above $7 could be dangerous.
PROCEPT BioRobotics (PRCT) – 5.5M shares
This one is a little different than the others, as it is backed by some more traditional underwriters including BofA and Goldman Sachs. They have developed a surgical robotics device for male urology treatments: with comparisons to Intuitive Surgical that could give this a substantial boost. The price range is also a more respectable $22-24, so it could debut at around $30… I’m hoping the market conditions inhibit too high of a debut premium, as this one can move without social media buzz: as I feel it will get institutional interest as well. Given the low float and solid business model, I have more conviction in this trade than the others on this list.
These aren’t the only IPOs for tomorrow: we’ve got $ONON $DH $BROS and $TWKS … all potential distractions to each other. Can’t trade them all, but will try to pick the winners and be prepared to adjust strategies where I see opportunities.
I’ll be in the Reddit thread all day to live trade these:
Join me here
NOTE: This is not financial advice, I am not a financial advisor: just sharing ideas and this is meant for informational purposes only. I am likely to take positions in the securities mentioned in this publication within the next 72 hours. Trade smart!
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