The IPOX® Week, February 8th, 2021

  • IPOX® Strategies record massive gains. Good Earnings and corporate actions drive outperformance. Nordics in focus.
  • All IPOX® ETFs close out week at all-time Highs. Heavyweight Snap Inc. (SNAP US: +20.21%) jumps after earnings, again.
  • IPOX® SPAC (SPAC) adds +9.54%. IPOX® EV gains.
  • “Hot” IPO market continues unabated with IPOs soaring across the world regions. More high-profile deals file and line up.

IPOX® Strategies record massive gains: A plunge in equity risk (VIX: -36.93%) amid higher U.S. rates, supported by solid U.S. earnings and continued China-strength provided a powerful backdrop for yet another week of gains for the IPOX® Strategies. Amongst individual countries, top of the list ranked the IPOX® 100 U.S. (ETF: FPX), key all-cap momentum proxy for the performance of U.S. IPOs and Spin-offs, adding +7.95% to +11.85% last week, outpacing the S&P 500 (SPX) by a big +330 bps. A huge week for select specialty exposure after exceptional earnings drove the jump, including applications software maker Bill.com (BILL US: +51.53%)

and Dynatrace (DT US: +33.61%). After recording a blockbuster Q3, buying continued for social networker heavyweight Snap Inc. (SNAP US: +20.21%) after posting solid Q4 results. Abroad, the IPOX® International (ETF: FPXI) added +6.67% to +7.99% YTD, outpacing its benchmark by +376 bps. last week. Here, Nordic exposure was in focus with video games maker Embracer Group (EMBRACB SS: +27.46%) surging after a corporate action and Nordic online wealth management platform operator Nordnet (SAVE SS: +21.55%) propelled strong earnings and upgrades. We

also note the fresh post-IPO high in China-based “hot pot” restaurant operator $54 billion Haidilao International (6862 HK: +21.04%), last week’s top performing China-linked IPOX® International (ETF: FPXI) holdings, with handset maker Xiaomi (1810 HK: -6.85%) ranking towards the bottom of the weekly performance ranking.

Select IPOX® Indexes Price Returns (%) 2020 Week YTD
IPOX® Indexes: Global/International
IPOX® Global Super Liquid (IPGL50) (USD) 66.63 7.26 11.91
IPOX® International (IPXI) (USD) (ETF : FPXI) 72.15 6.67 7.99
IPOX® Indexes: United States
IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) 47.32 7.95 11.85
IPOX® ESG (IPXT) (USD) 42.29 7.53 9.16
IPOX® SPAC (SPAC) (USD)** 48.52 9.54 16.29
IPOX® EV (IPEV) (USD)*** 11.02 5.05 15.30
IPOX® Indexes: Europe/Nordic
IPOX® 100 Europe (IPOE) (USD) (ETF: FPXE) 35.14 4.99 3.95
IPOX® Nordic Core (IPND) (EUR) 59.89 6.18 5.16
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 47.50 2.84 6.38
IPOX® China Core (CNI) (USD) 88.02 7.96 20.13
IPOX® Japan (IPJP)(JPY) 25.75 1.93 -1.10

* Basis for CME-traded e-mini IPOX® 100 U.S. Futures (IPOH1). Source: Bloomberg. Prices exclude dividends. **since July 30, 2020, ***since Nov. 17, 2020.

IPOX® SPAC (SPAC): The Index added +9.54% last week, rising +72.73% since its 7/30/2020 launch. SPAC news include 1) 11 SPACs Announced Merger Agreement/LOI include (partially): a) VG Acquisition with DNA-testing company 23andMe; b) Dragoneer Growth Opportunities with Advent-backed insurtech CCC Information Services; c) FTAC Olympus Acquisition with payment company Payoneer and d) 10X Capital Venture Acquisition with EV-tech supplier REE Automotive. 2) 2 SPACs Completed Business Combination include: a) CC Neuberger I with supply chain software provider E2open (ETWO) and b) AMCI Acquisition with fuel cell company Advent Technologies (ADN). 3) Deals reportedly in talk: Vista’s risk management software developer Solera with Apollo Strategic Growth. 4) 27 new SPACs flooded the market on the week.

IPO Deal-flow Review and Outlook: At least 31 IPOs launched across the global markets during the first week of February with the average (median) equally weighted deal adding a massive +47.39% (+32.84%) based on the final offering price and respective first close. All high-profile deals soared, including TikTok rival short video sharing platform Kuaishou (1024 HK: +160.87%), Indonesia digital banking company Bank Net Syariah (BANK IJ: +280.58%), Japanese quantum dot laser developer QD Laser (6613 JP: +126.47%), U.S. preclinical-stage cell therapy company Vor BioPharma (VOR US: +108.33%) and German online used car platform Auto1 (AG1 GR: +33.16%), German’s largest IPO in two decades. Deals lined up this week include Blackstone-backed dating app Bumble (BMBL US) and the retail unit spin-off (OR TB) of Thailand’s biggest energy company PTT Oil. Other IPO news include: 1) Hellman & Friedman owned European fund distributor Allfunds move forward with upcoming IPO plan; 2) Tecent music unit mulls HK listing; 3) Greek yogurt maker Chobani, oat milk maker Oatly both eye IPO at $10B valuation; and 4) German automaker Daimler (Mercedes-Benz) to spin off Truck unit on Frankfurt exchange.

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...

Understanding Buying Power in the Purchase of Securities
Read More
The IPOX® Week, March 1st, 2021
Read More
A Spec on SPACs, for Professional Traders
Read More
Lightspeed Brings Award-Winning Global Stock Charting to Lightspeed Trader with Direct eSignal Integration Options
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