|
After a strong market run leading into the election, the IPO Prophet 2024 cohort felt like a ride in a self-driving car. But last week brought a bit of a brake-check to what was starting to feel a little too easy. Last week’s WTD performance showed notable volatility, with an average decline of -7.70% in our group, while MTD performance still remains roughly flat at -0.56%. Many names saw considerable upside earlier in the month, driven by earnings reports and election-related market euphoria. For a detailed breakdown, check out our IPO Prophet Performance Recap below. Looking ahead, Pony.ai, a leading autonomous vehicle technology company, is set to go public this week. The company plans to offer 15 million American Depositary Shares (ADSs) priced between $11 and $13 each, aiming to raise up to $195 million. This offering would value Pony.ai at approximately $4.5 billion. Following WeRide's recent IPO, Pony.ai's debut highlights how autonomous driving companies are changing lanes into the public markets. The IPO is scheduled for November 21, 2024, with shares trading on NASDAQ under the ticker "PONY." In other news, Klarna, the Swedish fintech company known for its "buy now, pay later" services, has confidentially submitted a draft registration statement to the SEC for a proposed IPO. While the number of shares and price range remain unknown, reports suggest Klarna is aiming to list in New York in the first half of 2025. From the Prophet’s Perspective, this filing is big news not only in itself but also as further confirmation of our thesis that IPO activity will accelerate as post-election conditions take hold. With autonomous driving companies like Pony.ai changing lanes into public markets and Klarna revving up for its IPO, we’re seeing the wheels turn on what we believe will be a post-election resurgence in IPO activity. Are we at the start of an IPO renaissance? Let us know your thoughts.
|
|
|
|
IPO Prophet’s value lies in our proprietary signaling process. We analyze Initial Public Offerings using a suite of algorithms refined over the past 20 years. The table above highlights all IPOs in 2024 where IPO Prophet has generated a Bull Signal, demonstrating returns based on our signals and subsequent performance since the opening trade. While our indicators can be applied to longer-term positions, the data above reflects only the first day’s performance, as our signals are designed specifically for issuance day, with positions marked to market at the close of the IPO’s first trading day. To learn more about our process, here. |