This week’s IPO calendar sports eight deals. The last time there were more was for the week of May 7, when 12 IPOs were on tap, but only five made it to market. There is some good news this week. Another cloud-computing company is getting top billing, according to IPO handicappers.
When the IPO Express pulled into the Wall Street Station last week, it had a lot going for it. The train was on schedule and loaded with goodies.
July 4th spells holiday in the U.S. capital markets. Then Wall Street gets back to work the next day, if it is not on a weekend. But the IPO calendar has an extended vacation.
The IPO market closed out 2012’s first half with a bang. On Friday – the final trading day of the six-month period – ServiceNow (NOW), a cloud-computer company, scored a gain of 36.7 percent in its debut on the New York Stock Exchange. (More on that later.) ServiceNow was one of four IPOs to hit the launching pad during the final week of June. All finished in the winner’s circle – a fitting coda just before the IPO market’s Fourth of July break.
With one eye on the stock market and the other on hope, this week’s IPO calendar has four deals on its launching pad. The IPO experts had not expected any movement until after the July 4th break, and they still might be right.
It’s always a good idea to read the fine print in a contract, even if it’s so thin that it looks like a straight line. And it’s a good idea to read an IPO’s “red herring.” One will find valuable information within its pages.
The IPO market was hit with double whammies that dried up the calendar. But somewhere in time, there is a light at the end of the tunnel.
(Editor’s Note: This is an updated column that clarifies a case of the extension of a lock-up period’s expiration date.)
These headlines – “As Lock-Up Expires, Groupon’s Shares Plunge” and “Groupon shares drop as IPO lock-up ends” – ran on two major financial news services on Friday, June 1. Not to be outdone, more than a dozen others chimed in with their versions of the same story.
The aftershocks of the Facebook (FB) IPO were felt in IPO Valley all last week. It was a significant event, but nevertheless, an isolated event.
The Facebook (FB) IPO came to town on Friday with the all the hype of a three-ring circus. It left town at the closing bell, looking like the circus grounds after the show was over.