Episode 10: Market Rally as IPOs revive
Hi Friends. Over the weekend there were several updates on companies that are starting to gear up to go public. As I have covered in my last episode the healthcare IPOs have continued through the pandemic and last week we saw ADC Therapeutics perform well. The IPO index was over 2.3% stronger as the S&P 500 index was down 2.3%. The traction on new issues in the market are showing that there is still a lot of interest to have new investment options especially when it comes to healthcare and technology. We will be watching another biotech scheduled to go public Inari Medical ticker (NASDAQ:NARI) out of Irvine that I worked with late last year. I am excited for Mitch Hill and team. I know they will do great.
Michael Jordan’s ESPN episode The Last Dance has Michael Jordan’s stock surging. Companies like StockX, a major e-commerce retail company, have Air Jordan now at $7K and their site traffic is up 76%. He is truly continuing his legacy as the GOAT!
Moving to today’s market close. The Dow, S&P and Nasdaq all closed up today.
Dow up 900 pts
S&P up 90 pts
Nasdaq up 220 pts
The news that is driving the momentum came from positive sentiment from Fed Chair Powell on his 60 Min interview. He reinforced that he will use all tools necessary to support the US economy. Moderna announced today it’s positive results on early testing driving their stock over 35% to the close. Finally the June contract for WTI Crude oil reached $31 in a drastic comparison to last month's negative $30 a barrel which you could not offload if they paid you.
We will be watching SelectQuote ticker (NYSE: SLQT), an Overland Park, Kansas-based insurance policy comparison site, is expected to go public, in what could be the largest U.S. IPO since February listing on NYSE.
Finally join us this Friday for our special guest Michaela Lalanne, real estate expert. She has partnerships with corporate real estate tenants, ranging from startups to some of the largest companies in the world. She will give us an update on quarantine the impact in the real estate market. See you Friday!
La noticia que está impulsando sentimiento positivo viene del presidente de la Fed Powell en su entrevista de 60 minutos. Reforzó que usará todas las cosas necesarias para apoyar la economía. Moderna anunció hoy que los resultados positivos de las primeras pruebas. Finalmente, el contrato de junio para el petróleo crudo WTI alcanzó los $ 31 en comparación con los $ 30 negativos por barril del mes pasado, que no podría descargar sin pagarles.
Estaremos viendo el horario de la OPI esta semana. Inari Medical, un fabricante de dispositivos médicos con sede en Irvine, California, las acciones en $ 14- $ 16 y cotizará en Nasdaq. Seguido de Select Quote, un sitio de comparación de seguros con sede en Overland Park, Kansas, se espera que se haga público esta semana en NYSE.
Finalmente, Michaela Lalanne, experta en bienes raíces Ella nos dará una actualización sobre la cuarentena del impacto en el mercado de bienes raíces. ¡Teveo el viernes!