Candygram

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…

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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…

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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…

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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…

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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…

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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…

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Candygram – July 27 2020 Rackspace and Vital Farms

The IPO market continues the strong summer momentum this week with deals including Vertex (VERX) and Vital Farms (VITL). There are a total of nine deals on the calendar this week (two have not set a date for pricing yet but intend to try for this week.) In addition firms are setting terms and going…

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Candygram Highlights April 2020

Despite a slow/no-go IPO market we’ve had some companies brave the markets and price very successful deals. Here are some highlights from our weekly IPO Candygram. We also started compiling some things we find helpful like our IPO Candy 2019 yearbook which we will be doing again this year but releasing quarterly so it’s more…

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IPO Candygram 2.3.2020

Last week made it feel like we’re really back from the break. Several IPO deals were priced and traded well in the aftermarket. We liked the One Medical (ONEM) deal enough to buy some on opening day at $18/share where it was still a good investment based on our analysis. This week we have seven…

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The IPO Candygram – January 2020 – Velocity Financial

Four deals priced last week to start the new year. Three priced at the bottom or below the range and the one that priced in the middle, IMAB, dropped 10% immediately in after market trading. So despite record highs the IPO market was lukewarm last week. These deals were all fairly mediocre as well so…

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