Are we allowed to make crass financial jokes in headlines?
Hello everyone, it's a busy week with TipsClear Early Stage underway and a host of tech benefits to analyze. But that didn't stop the Equity team from sitting down to discuss the recent wave of comments from PSPC.
Danny and I meant what a PSPC is - the acronym stands for special purpose acquisition company - and why everyone seems to be arguing with them.
What do you have to do with it? Here's a background, in a simple bulleted format:
- Yesterday, after increasing its IPO price range, Jamf set the price at $ 26 per share, selling more shares than he previously expected.
- Today it opened for trading around $ 48 and is currently worth $ 40.18 per share, well above its IPO price.
- Recent day one earnings like Jamf's have raged elements of risk classes who think the spread between an IPO price and where a company first trades is money that Wall Street bankers and the IPO process itself have stolen .
Enter the PSPCs, which could provide a way for unicorns and other venture-backed companies to go public through a different pricing mechanism. Whether this alternative method of corporate pricing would be better is unclear, but we've tried to talk about it.
Equity is back on Friday morning, of course. And please keep in mind that when I mentioned "Robinhood dipshits, "I was talking about all retail investors as a cohort, not just the folks at a particular trading venue. However, thanks to Robinhood's prestige in the market, I have used it as a shortcut for retail investors at large.
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