It was a busy day in New York but it was fun to meet with portfolio founders and grab a great lunch burger at PJ Clarkes in midtown. The weather was great so I was surprised how quiet the city was. Mid town is sadly very quiet still and a bunch of my old favorite restaurants are shut down.
I have a pretty hectic day of meetings today but excited for the face to face energy.
Onwards…
Back in January I wrote about my idea/strategy for buying broken IPO’s.
I was starting to consider an allocation to my favorite brands/companies/businesses from the list or even just the IPO ETF itself ($IPO)
Last week it was Snowflake ($SNOW) that imploded which was the ‘hottest’ tech IPO of the last year. It now trades at a new post IPO low.
I want to start by buying the IPO etf to start tracking it more closely, but a couple things give me pause still.
Tech investors continue to pile into Cathie Woods $ARKK ETF and this buying feels like people hoping, not in fear:
The second concern I have at the moment is the Trump SPAC is actually the BEST performing IPO.
If I see some more fear ($ARKK panic) and a quick panic in Trump SPAC, it will make buying this ETF a little easier.
Here is the update list/link on Koyfin of all the IPO’s of last two years (free to set up an account).
As for broken IPO’s that stand out to me here…
Ellen and rachel love the $FIGS (Figs Scrubs) products as they say all their friends in medical space wear them religiously. It’s like LULU for medical professionals and all ecommerce. The stock is down to $13 from $50 but still a 2 billion valuation.
Snowflake is a tech darling and platform that all my smart venture friends rave about – below $50 billion and I will dip my toe.
So many names on this IPO list are down over 70 percent.
I know a lot of future winners are in this list so I am sharing it widely to get feedback.
