On Aug. 15 Sacks Parente, a small putter outfit in California, announced the pricing of its IPO at $4 per share with 3.2 million shares available. Within hours, something remarkable—and something curious—immediately happened. The price soared to $32 a share,
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VinFast’s wild ride points to need for stock health warnings
In a remarkable stock debut via a special purpose acquisition company (SPAC), VinFast’s market capitalization shot higher after its mid-August listing to a peak of around $190bn. The stock has since slumped and the market value fallen to $64bn. “Most
SoFi to underwrite first big IPO after securing Instacart listing
Winning a role on one of the most high-profile US listings of the year is a milestone for SoFi, but the slow road to reaching it highlights the challenges that have faced numerous efforts to improve retail access to IPOs.
Trump’s Truth Social facing a key funding deadline
The ‘blank check’ ally of former president Donald Trump’s media start-up was once a stock-market star. It’s now days away from potential liquidation. Cordell Eminent Scholar Jay Ritter shares his insights in this story from the Washington Post.
Trump Media’s SPAC Deal Faces a Make-or-Break Investor Vote
Cordell Eminent Scholar Jay Ritter shares his insights for this story on the deal to take Donald Trump’s social-media company public. Trump Media faces a make-or-break moment as the blank-check firm that’s acquiring it rushes to get investor buy-in. Read
IPO Drought Is Ending, But Don’t Expect a Deluge
Cordell Eminent Scholar Jay Ritter provides his IPO insights to Bloomberg for this opinion column from Jonathan Levin, who writes about the U.S. market for initial public offerings finally reopening after the sleepiest stretch in 32 years. If recent deals
Trump tweets after Georgia arrest: Indictment spurs return to Twitter, now known as X
Trump, who has certain contractual obligations to TruthSocial and has an incentive to prop up the value of his social media company, had previously said he would not return to Twitter even if invited. Rejoining the social media platform was
Sports IPOs on losing streak as boiler room heat grows cold
Sports IPOs have flopped in 2023: There have been seven IPOs, including two sports-related SPACs, and the total return from the offering prices is negative 43%. Why are sports IPOs performing poorly? Hint: It’s not because people don’t like sports
Jay Ritter comments on Arm’s IPO on Bloomberg Market’s The Close
Cordell Eminent Scholar Jay Ritter shares his insights about Softbank-backed chip designer Arm’s IPO, which is on track to be the largest public debut of 2023. Hear more from Ritter in this video from Bloomberg. [Segment begins at 1h 57m.]
AMC moves to simplify its stock situation
Cordell Eminent Scholar Jay Ritter comments on movie theater chain AMC’s complicated stock maneuver the company is planning. AMC shares fell 24% on Monday after a judge approved the company’s plan to consolidate two types of stock the company offers:
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