The IPOX® Week, December 13th, 2021

  • IPOX® Indexes record strong gains as blue chips soar ahead of expiration.
  • Nasdaq selects key IPOX 100 U.S. (FPX) portfolio holding to the Nasdaq 100 (QQQ).
  • IPOX® SPAC (SPAC) declines anew. 20 new SPACs launched in the U.S.
  • IPO market sentiment bounces as 29 deals launch across global regions.

Ahead of Futures and Options expiration week, most IPOX® Indexes staged a solid rally, recovering some of the previous week’s sharp losses. Amid big intra-week gyrations in index spreads which pushed the blue-chip focused S&P 500 Index (SPY) to a fresh all-time closing high Friday, the IPOX® 100 U.S. (FPX), for example, added +2.40% to +3.17% YTD, markedly better when compared to most innovation-focused equity indexes. Here, 73/100 stocks gained, with the average (median) equally weighted stock adding +1.98% (+1.86%), less than when compared to the applied market-weighted index. While the IPOX® International (FPXI) lagged for yet another week, gains extended to other regions, including the IPOX® Europe 100 (FPXE) which recovered by +2.20% to +6.86% YTD. IPO M&A as measured by the super-liquid IPOX® GINDEX rose +2.99% last week. 

IPOX® 100 U.S. (IPXO) Investing with the “FPX” ETF since 2006

Nasdaq adds key Ipox® 100 U.S. Index (FPX) Portfolio Holdings to Nasdaq 100 Index (QQQ): With a combined weight of ca. 6%, we are pleased to note the addition of key IPOX® 100 U.S. Index (FPX) holdings 12/2020 IPO online travel platform operator Airbnb (ABNB US: +8.20%) and infrastructure software makers 09/2019 IPO Datadog (DDOG US: +6.30%) and 03/2018 IPO infrastructure software maker Zscaler (ZS US: -2.43%) to the NASDAQ 100 Index (QQQ). 

IPOX® Portfolio Holdings in focus:  Amid short covering and the big rally in the traditional benchmarks, including Chinese equities, some of the previous week’s big decliners ranked on top of last week’s IPOX® leaderboard. Companies in focus included leading Chinese real-estate services provider Country Garden Services (6098 HK: +16.29%), U.S. dating site operator Bumble (BMBL US: +14.27%), sporting goods stores operator Academy Sports and Outdoors (ASO US: +13.67%) and Brazil payment processor PagSeguro Digital (PAGS US: +13.06%). We also note a fresh all-time high in IPOX® 100 Europe (FPXE) holding European car dealer and Moleskin owner D’Ieteren Group (DIE BB: +8.74%). Big selling after adverse reports or weak earnings pressured Canadian payment processor Nuvei (NVEU US: -34.02%) and German online food delivery platform operator Hellofresh (HFG GY: -11.35%).

Select IPOX® Indexes Price Returns 2020 Last Week YTD
IPOX® Indexes: Global/International
IPOX® Global Super Liquid (IPGL50) (USD) 66.63 1.80 -5.31
IPOX® International (IPXI) (USD) (ETF: FPXI) 72.15 0.23 -13.71
IPOX® Indexes: United States
IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) 47.32 2.40 3.17
IPOX® M&A (GNDX) (USD) n/a 2.89 n/a
IPOX® ESG (IPXT) (USD)  42.29 0.83 -0.12
IPOX® SPAC (SPAC) (USD) 48.52 -0.57 -14.53
IPOX® EV (IPEV) (USD) n/a 0.20 29.12
IPOX® Indexes: Europe/Nordic
IPOX® Europe (IPOE) * (USD) (ETF: FPXE) 35.14 2.20 6.86
IPOX® Nordic Core (IPND) (EUR) 59.89 4.05 16.87
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 47.50 -0.27 -6.35
IPOX® China Core (CNI) (USD) 88.02 3.36 -37.42
IPOX® Japan (IPJP) (JPY) 25.75 -1.30 8.22

* Basis for CME-traded e-mini IPOX® 100 U.S. Futures (IPOH2). *also available In UCITS format in Europe in EUR (EFPX IM,), USD (IPXE LN), and GBP (FPX LN). 

IPOX® SPAC INDEX (SPAC):  The index fell -0.57% to -14.53% and +26.95% since Its 7/30/2020 launch. SPAC news include: 1) 6 SPACs Announced Merger Agreement include a) Virgin Group II (VGII US: +0.82%) with sustainable consumer products sell Grover, b) Oaktree II (OACB US: -0.20%) with biopharma Alvotech and c) CC Neuberger II (PRPB US: +0.00%) with pictures marketplace Getty Images. 2) 7 SPACs Approved Business Combinations include a) Decarbonization Plus III with Ford-backed battery maker Solid Power (SLDP US: +5.51%); b) dMY Technology IV with earth imaging company Planet Lab (PL US: +0.11%) and c) Dragoneer Growth III with event management platform operator Cvent (CVT US: -11.79%). 3) SPACs terminated merger agreement include a) Pathfinder Acquisition (PFDR US: +0.00%) with field service management vendor ServiceMax and b) FAST Acquisition (FST US:           -0.00%) with restaurant and casino group Fertitta Entertainment. 4) 20 new SPACs launched last week in the U.S.

WEEKLY GLOBAL Deal-flow Review and Outlook:  29 IPOs launched globally last week, with the average deal adding +4.09% based on the difference between the final offering price and Friday’s close. Key deals in the U.S. included the IPO of Brazil’s Nubank (NU US: +31.67%) and software group HashiCorp (HCP US: +7.13%). Abroad, Saudi Exchange Saudi Tadawul Group (TADAWULG AB: +20.00%) and Germany’s Daimler spin-off Daimler Truck (DTG GR: +9.05%) rose.  U.S. industrial Samsara (IOT US) and Japan’s payment services provider Net Protection (7383 JP) are key IPOs lined up for this week. Other IPO news include: a) Volkswagen mulls Porsche listing; b) Saudi food delivery startup Jahez and Russia’s car dealer Rolf consider IPO and c) Intel set to spin-off self-driving unit Mobileye.

Lightspeed Financial Services Group LLC is not affiliated with these third-party market commentators/educators or service providers. Data, information, and material (“content”) are provided for informational and educational purposes only. This content neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities or contracts. Any investment decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Lightspeed Financial Services Group LLC does not endorse, offer nor recommend any of the services or commentary provided by any of the market commentators/educators or service providers and any information used to execute any trading strategies are solely based on the independent analysis of the user.

You may also be interested in...

The IPOX® Week, January 10th, 2022
Read More
The IPOX® Week, January 3rd, 2022
Read More
The IPOX® Week, December 27th, 2021
Read More
Timing Is Everything For Successful Traders
Read More

Try the demo

Compare Platforms
Check the background of this firm on FINRA's BrokerCheck

Our website uses cookies to improve the performance of our site, to analyze the traffic to our site, and to personalize your experience of the site. You can control cookies through your browser settings. Please find more information on the cookies used on our site in our Privacy Policy. By clicking OK, you agree to allow us to collect information through cookies.

OK