A Quick Recap of what Happened This Week:
Alfi, Inc. (ALF): May 4, 2021
ALF caused some confusion when it debuted, as the ticker symbol on WeBull alternated between AFLIW and ALF, and the warrants didn’t appear in IPO buyer’s accounts until the next day. After pricing the IPO at $4.15, shares debuted at $3.75 and dropped immediately to a low of $2.41 before recovering to close at $2.90… on Day 2, Twitter started buzzing about the low-float ALF that was primed for a run, but it wasn’t until pre-market on Day 3 when ALF finally saw liftoff: reaching $5.99 in pre-market before trailing off into market trading hours, with a steady decline throughout the day. Not quite the explosive small float play we had expected, but patience payed off for a nice 30%+ win on ALF.
The Honest Company (HNST): May 5, 2021
We saw Jessica Alba’s Honest Company IPO debut at $21.22 and run up in the initial 20 minutes of trading to a high of $23.88. While it appeared to be poised for a Day 2 run, HNST failed to break above $23.63 in the opening minutes of Day 2, and quickly pulled back and joined the rest of the market in the toilet, closing at $20.58. Like ALF, this was likely unhelped by generally poor market conditions
Five Star Bank Corp (FSBC): May 6, 2021
FSBC opened at $23.25 and traded in a tight range of $23.00 off the opening dip to $25.36 at the end of the day. I spelt on this one, and without strong conviction in the stock, it would have been hard to have done much more than take a $0.25 win.
Anyway, we’ve got a full slate of IPOs for tomorrow.
Here’s a quick rundown of what’s on the table:
ANEB – the weed antidote (overdose and addiction) – 3M float. No Twitter Chatter.
IPW – weed growing equipment; profitable with topline growth – 5M float, some Twitter chatter
BWMN – engineering/consulting company – 3M float,
OG – Chinese social ecommerce MLM… nothing on Twitter, “OG” appears to be a crypto as well, so signals getting crossed.
WDH – Another Chinese IPO – insurance/healthcare for the Chinese market – lead by Goldman, so nothing to ignore… 30M shares… worth a play perhaps.
TALS – late stage clinical trials for “allogeneic hematopoietic stem cell transplantation”… 8M shares… not my cup of tea
VISN – gene therapy for macular degeneration (eyes/vision) – 6.5M shares… hmm… we’ll see where this shakes out in the lineup.
RNAZ (rescheduled to 5/11) *still available on WeBull