Candygram
June Portfolio Update #3 of 4
With this update we add three mini-themes: cannabis, crypto, and sports betting to the mix along with the stocks we are using to play those trends over time. TLDR; Adding MAPS, DKNG, and COIN. Cannabis Cannabis should not be a Schedule 1 substance. It’s proven to be an important therapeutic and now that commercial interests…
Keep Reading
June Model Portfolio Update #2 of 4
After cleaning up the whole portfolio in part #1 it’s time to start adding some themes and stocks. TLDR; The time for “XR” is now and were adding: Bentley Systems (BSY), Roblox (RBLX), Corsair (CRSR) and Matterport (GHVI) which join Unity (U) and Agora (API) under this thematic category. What we call “XR” which we’ll…
Keep Reading
June Model Portfolio Update #1 of 4
TLDR; 12 kept, 12 eliminated – Keeping SDGR, SWAV, GSHD, WK, HUBS, ARLO, AVLR, U, API, TWLO, DOCU, FTHM and eliminating FVRR, MRNA, PINS, TDOC, SFIX, SVMK, PLAN, ONEM, CDLX, RKT, TMDX, W Keepers Twilio (TWLO) – This is one of our longest holdings. In 2017 we published Time to Buy Twilio and never looked…
Keep Reading
Mytheresa Aims High
We’ve had a few “luxury retail” e-commerce companies come public including FarFetch (FTCH), TheRealReal (REAL) and most recently Poshmark (POSH). Although the latter feels a little more like an “eBay for clothing” than a real luxury retailer. Mytheresa is positioned at the very high end of this market in terms of both the products they…
Keep Reading
Candygram September 9th – FROG SUMO and SNOW lead us back
The IPO calendar sure filled up in a hurry. But this is what we described when we published the last Candygram at the end of August – Deals Crowd September Starting Gate. In order to get some coverage out on these names prior to pricing I am going to share my raw roadshow notes as…
Keep Reading
Candygram August 31 – Deals Crowd September Starting Gate
The summer IPO hiatus will be brief this year and it’s clear from new filings that a heap of deals, especially in technology, are gearing up for September. There are no deals on the schedule this week as we head into Labor Day. Last week we covered the Palantir filing which is to be a…
Keep Reading
Candygram August 24 2020 – The Tesla of China
A couple of weeks ago we had the “Zillow of China” go public in the shape of KE Holdings (BEKE). This week we have an Chinese EV (electric vehicle) company on the schedule for this Wednesday night. Xpeng (XPEV) is planning a $1B IPO although insiders have “indicated an interest in purchasing” up to $500M of…
Keep Reading
IPO Candygram August 18, 2020 – No rest in August?
In terms of IPO aftermarket performance the market continues to love technology and healthcare. Last week we saw Duck Creek Technology (DCT) in InsurTech price way above the range at $27 and trade up to $40, KE Holdings (BEKE) which is a RealEstateTech company price above the range at $20 and close the week at…
Keep Reading
Candygram August 10 2020 – The Zillow of China
Last Week Last week was filled with more out-sized IPO gains from BigCommerce (BIGC), Oak Street Health (OSH), Acutus Medical (AFIB) and to a lesser extent Rocket Companies (RKT). For us Rocket was the real winner in our portfolio since it was priced low and opened quietly. It’s a rare chance to buy a substantial…
Keep Reading
Candygram August 3 2020 – BigCommerce Rocket and Rackspace
Last week our focus deal, Vital Farms (VITL) priced way above the range at $22 and settled in around $35 on Friday. It surged another few points yesterday to $42. We sold half above $40 and hold the balance. No matter what happens in November we’ll want eggs and butter. This week starts off with…
Keep Reading