08/09/2021: Weekly Newsletter
About halfway through the year some interesting trends in IPOs.
1) More and more direct listings (for better known brands) and SPACs
2) Lots of FinTech: Robinhood (not shown but recently IPO’d), Affirm, Billtrust, Coinbase, SoFi, Marqeta, and probably more I might have missed
3) 47% had negative initial post-IPO arcs, (ie in other words the stock has not performed as well as expected)…47% to me seems high…? Although, I don’t know how IPOs in other years compared, so I can’t say if it’s a better or worse benchmark. But it does still seem interesting that almost half of IPOs this year have had share prices fall below their initial listing price. Could it be a sign that valuations are getting overheated….?
Money & Crypto
A great recap of IPOs so far this year, including Robinhood, which 94% of you said you don’t use Robinhood
What’s your state’s top trading partner?
Snapchat is 10 years old. Only 20% of you said you used it.
Binance.US CEO leaves after just 4 months
Elon Musk and Brian Armstrong’s thoughts on proposed crypto tax legislation and an overview of the dueling proposed amendments
Bitcoin passes $43k
Nascar partners with Zed Run, digital horse breeding & racing company
This was surprising - Federal Reserve governor hints that private stablecoins might be better than a central bank issued coin. Not what I would have expected a Fed governor to say.
Tech & Science
🎧 Dr. Leana Wen talks about the COVID vaccine, immigrating to the US, and being Baltimore’s health commissioner
Etc.
Great Olympic photos
There’s so many wonderful Olympic highlights its hard to cover them all, but I’ll attempt to list some of my recent favorites here:
Karateka Feryal Abdelaziz wins Egypt’s first gold since 2004
Molly Seidel’s surprise bronze medal in her 3rd marathon EVER
The composer behind the music of The White Lotus (5 episodes in and highly recommend!) 🎥
🎥 Long Strange Trip takes a fascinating look behind the scenes of the Grateful Dead’s start as a band and long-running popularity
Disclaimer: All opinions are my own. The content on this site and on the podcast does not constitute financial, legal, accounting, tax, or investment advice.
