Candygrams

Our overall ecosystem Candygram now comes out quarterly. We publish shorter sector-focused pieces in between. Full Candygram access requires a MELTED CHOCOLATE subscription.

IPO Candygram July 2014  “FroYo” Covers the IPO market for Q2 of 2014 which continued the strong momentum we had in Q1. We’ve now reached over 150 new deals already in 2014. For access to the full version please use this link: IPO Candygram 2Q 2014 Full Version.

IPO Candygram May 2014 (summary) “Blueberry Pie” Covers the IPO market for Q1 of 2014 which came in with great enthusiasm. 67 deals were priced and many took off rapidly post-IPO only to come down to earth sharply in March as the market declined and the appetite for high valuation “story” stocks went wanting. This expanded Candygram runs to over 40 pages and adds quite a bit of new material that covers the market by year, by sector and by performance. Access to the full Candygram now requires a MELTED CHOCOLATE subscription but we are providing a summary report covering Q1 via the link above. For access to the full version please use this link: IPO Candygram May 2014 Full Version.

Below is the archive of IPO Candygrams from prior periods. They provide a good context for the market was like during these periods.

IPO Candygram August 2013 “Layer Cake with Ice Cream” Momentum continued in July with 19 IPO pricings and 20 new filings. We’ve now had 70 deals price in the last three months. The broad themes in the market continued to be 1) energy/MLP yield names, 2) US housing recovery plays and 3) biotechnology and specialty pharmaceuticals. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram April 2013 “Chocolate Bunny” March was another good month overall with 11 deals priced and 14 more filings. Overall ecosystem performance was up and we made some changes to the IPO Candy Folio. The momentum going into April looks strong. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram March4 2013 “Kinder Surprise” February was another good month overall. Overall ecosystem performance was up and we made some changes to the IPO Candy Folio. The momentum going into March looks decent. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram February 5 2013 “La Gallette Des Rois” January was a strong month for deals priced and overall ecosystem performance. The momentum going into February looks strong indeed. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram January 3 2013 “Candy Canes” Not a very festive December in the IPO market. But some deals priced and one “sleeper deal” called Ruckus Wireless did very well in the aftermarket. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram December 4 2012 “Candy Canes” November was a slow month for both new deals priced. New filings and withdrawn deals cancelled out. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram November 9 2012 “Pecan Sandies” October was a big month with 23 deals priced. For now the market is quiet post-election as the fiscal cliff looms. Lots of filings going on now are secret too. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram October 2 2012 “Kit Kat” September was a good recovery month for the IPO market after the August break and as we went to press there were 14 deals already in marketing. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram September 5 2012 “Tootsie Roll” August was a half month with the last two weeks devoid of activity for a brief summer vacation for investment bankers. Performance improved though along with filings. Could be a busy September! Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram August 3 2012 “Popsicles” The month of July showed some improvement in the overall IPO market. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram July 5 2012 “Candy Apples” The month of June showed some improvement in overall performance and a few deals squeaked out in the last week. Our ecosystem overview, performance and pipeline tables are all included.

IPO Candygram June 4 2012 “Sour Patch Kids” The month of May was a rough time in the general market and for IPO names. Facebook management provided the “sour patch kids” theme this month. Our Ecosystem overview, multiple performance *new* and pipeline tables are all included.

IPO Candygram May 3 2012 “Berries & Cream” The month of April was a bit slower as the market in general and IPO names in particular paused after three months of solid performance. May is already off to a busy start though. Our Ecosystem Overview, Multiple Performance *new* and Pipeline tables are all included.

IPO Candygram April 4 2012 “Birthday Cake” March continued all the positive momentum we’ve enjoyed so far this year. With Facebook queued up for May the market feels solid despite what some pundits say. We’ve noted 20 deals in the pipeline of high interest. Our Ecosystem Overview, Performance and Pipeline tables are all included as usual.

IPO Candygram March 2 2012 “Honey Waffles” February was another good month with 18 deals priced and 15 filed. The IPO Candy Folio is up 12.65% YTD. There aren’t many deals in active marketing as we go to press so we may have a breather in March. We also made some improvements to our Ecosystem Overview, Performance and Pipeline tables.

IPO Candygram February 2 2012 ($) “Healthy Snacks & Green Tea” The IPO market is off to a terrific start from a performance standpoint. While few deals priced in January the filings were strong with 12 deals in active marketing.  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram January 9 2012 ($) “Champagne & Tiramisu” Our year-end 2011 edition of the Candygram takes a look at performance for the full year for the “class of 2011″ and also the pre-2011 segment of our ecosystem.  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram December 5 2011 ($) “Candy Canes & Sugar Cookies” Coverage for the fairly busy month of November and also a housecleaning for the IPO Candy Folio.  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram November 2 2011 ($) “Bite Sizes Only” The IPO market begins to thaw after the terrible August/September period. Ubiquiti and ZELTIQ manage to price and trade well.  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram October 4 2011 ($) “Charleston Chew” September was a rough month with no deals priced and another sequential decline in filings. Some companies like Kayak are said to shelf plans for tapping public markets.  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram September 8 2011 ($) “Reese’s Pieces” Market momentum waned in August. Filings remained very heavy at 23 but market conditions bloated the pipeline going. The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram August 2 2011 “Massive Brownie Sundae” Markets crash around the world yet deals in active marketing and filings stay strong. Whistling past the graveyard or do bankers know something we don’t?  The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram July 1 2011Strawberries & Cream” The IPO market experienced a summertime lull.  Filings continued to be robust however so investors savored the pause. The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram June 16 2011Pandora’s Box of Chocolates” News outlets are proclaiming that IPO market is “getting out of control” as companies like Pandora and GroupOn move towards the public market.  We added lots of deals to the IPO pipeline. The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

Candygram June 2 2011Ice Cream Season” Pricings and filings moderated a bit with the holiday.  Some important internet deals like LinkedIn and Yandex priced and traded very well. The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram May 16 2011Barbapapa!” The IPO market continues to be pretty robust despite some market weakness.  We added lots of deals to the IPO pipeline. The IPO Candy Ecosystem Overview, Performance and Pipeline tables are included.

IPO Candygram May 2 2011Candy or Bubble Gum?” April ended up being a good performance month and although there were not a huge number of deals priced we saw a major acceleration in filings towards the end of the month. May is going to be a busy month.  All the usual ecosystem tables are included.

IPO Candygram April 19 2011Back in the Candy!” April ushered in a full resurrection of the IPO market just as we had “profitizied” in our last edition.  Pricings, deals in active marketing and filings are not at peak levels but are in full swing. With the quarter over we’re back to our typical two week look back at mid-month.  All the usual ecosystem tables are included.

IPO Candygram April 4 2011Get Ready for Easter?” March finished strong and the IPO market has resumed at a basic level.  A few deals are in active marketing including Zipcar and Ellie Mae that are of interest to us.  Since it’s quarter-end there are more performance tables than usual as we look at both monthly and quarterly figures.  The usual ecosystems are included along with an extra performance table and two extra Lucky Candy tables.

IPO Candygram March 16 2011Puccho Cupcakes” The market remained weak and slow in the face of disaster in Japan and a range of concerns including escalations in Libya and continued inflation trends in many markets.  Still there were some notable winners in terms of performance and the pace of filings remained robust.  Several new deals look promising.  Overview, Performance, Pipeline and the Lucky Candy ecosystem are all included.

IPO Candygram March 1 2011Rock Candy” There were no pricings in the second half of February as market volatility increased.  There was a bigger-than-usual separation between the winners and the losers for the month.  We can look forward to a wave of new stock coverage from the banks in March.  Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram February 17 2011A Run on the Candy Store” With sixteen pricings the short-term pipeline is depleted.  But new filings from companies like LinkedIn, Pandora and Freescale are keeping the market activity and anticipation high.  The IPO Candy Folio continues to perform and is up 12% YTD. Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram February 1 2011Hot Chocolate and Mini Marshmallows” The first two weeks of February are poised for a real test of investor demand with a slew of new deals commencing active marketing.  Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram Jan 17 2011A Mars Bar Year for the IPO Market” Even pundits are now calling for a resurgence in IPO market health after companies like LinkedIn, Facebook and Groupon have said they plan to be public.  Demand Media is the first big Internet/Technology deal to begin active marketing.  Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram January 3 2011Get Ready for a Busy Kitchen in 2011” The market begins to get started again after the holiday break. We look at the IPO class of 2010.  Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram December 16 2010It’s Beginning to Look a Lot Like Christmas” In a mad scramble to get deals done before the holidays 15 deals were priced.  The ecosystem was down a little during the first two weeks of the month.  Overview, Performance and Pipeline tables are all included.

IPO Candygram December 1 2010Dreams of Sugar Plums Dancing in Their Heads” It’s been a good year for investment bankers.  Maybe not as sweet this year in terms of compensation but still good. The average gain for the ecosystem was 8% for November in what was a fairly flat market.  Overview, Performance and Pipeline and the new “Lucky Candy” ecosystem are all included.

IPO Candygram November 15 2010Driving in the Chevy for Grandma’s Sweet Potatoes ” Ten deals priced and the calendar shifts to more “big and safe” offerings including, ironically, GM. The ecosystem was pretty flat for the first two weeks of November.  Overview, Performance and Pipeline tables all included.

IPO Candygram November 1 2010Mostly IPO Treats this Halloween” The average gain for the ecosystem was 9% for October. The China IPO enthusiasm continues.  Overview, Performance and Pipeline tables all included.

IPO Candygram October 18 2010Candy Corn & Marshmallow Peanuts” suggests anything but a scary IPO market for the Halloween season. The average gain for the ecosystem was 4% for the first two weeks of October.  Overview, Performance and Pipeline tables all included.

Candygram October 1 2010Chinese Apple Picking Season” notes a shift back to high demand for anything coming out of a China and a booming performance month in September.  The average gain was 13% for our ecosystem.

Candygram Sept 16 2010The Aroma of Fall Deal Pricings is in the Air” marks a return to normal levels of IPO activity after the summer break.  Highlights a few companies already out marketing and some new filings.  Overview, Performance and Pipeline tables all included.

Candygram Sept 1 2010IPO Market Turns into Slow Syrup” gives performance highlights from a slow period in the IPO market.  IPO names show great volatility with the best up over 100% and the worst down over 50% from pricing.  Even in the two week period we see many 10%+ moves in both directions.

Candygram August 16 2010 – A look at recent pricings, performance, filings and an update on some company meetings.  CBOE has fallen to levels that make it look interesting.

Candygram August 2 2010 – Qlik, Green Dot, RealD and Envestnet priced.  CBOE, Higher One, Motricity and Broadsoft get banker research coverage.  Includes an expanded ecosystem that includes more data on after-market performance.

Candygram July 1 2010 – Discusses the offerings that were completed including Tesla. Mentions InvenSense, RealD, SMART Technologies and Qlik Technology as offerings we are following closely.  Added a deal size metric.

Candygram June 15 2010 – Our first issue notes Motricity, Broadsoft, CBOE, and Higher One Holdings as four that we are working on that are appear doable in the market.