The IPOX® Week, November 30th, 2020

  • Key IPOX Indexes soar anew to record fresh all-time Highs:
  • IPOX 100 U.S. (FPX) rises to +40.62% YTD; Big gains in NYSE-Listings drive IPOX 100 U.S. past Nasdaq 100 YTD.
  • IPOX International (FPXI) rises to +57.17% YTD.
  • IPOX SPAC (SPAC) rises +8.34% in big ever for IPOX strategy.
  • Evergrande Services (6666 HK) and Nuix (NXL AU) on deck.

Key IPOX Indexes soar anew to record fresh all-time Highs: The IPOX Indexes topped the weekly global equity performance rankings anew, with corporate actions linked to select IPOX Holdings and exposure to firms seemingly insulated from the COVID-19 inflicted global economic vows driving outperformance. In the U.S., e.g., the broad-based IPOX 100 U.S., tracked by the $2 billion “FPX” ETF, surged +5.36% to +40.62% YTD, now a massive +2935 bps. ahead of the S&P 500 (SPX), benchmark for U.S. stocks, YTD. Here, big gains in NYSE-listed IPOs and Direct Listings drove the index past the FANG-dominated hard-to-beat Nasdaq 100 (NDX) YTD, with software makers Palantir (PLTR US: +52.40%) and perceived takeover target Slack Technologies (WORK US: +39.09%) in focus, while big gains in IPO M&A electric car maker Tesla (TSLA US: +19.64%) ahead of its S&P 500 (SPX) index inclusion set for next month helped. Mortgage provider Rocket Cos. (RKT US: -3.39%) recorded losses. In non-U.S. domiciled exposure, we note a fresh-all-time closing High in the IPOX International, tracked by the $1 billion “FPXI” ETF, with the portfolio adding +1.13% last week, to +57.17% YTD. Here, big gains in Saudi-traded 03/20 IPO health services provider Dr. Sulaiman Al-Habib (SULAIMAN AB: +15.58%), online luxury fashion marketplace “off-white” owner Farfetch (FTCH US: +14.06%) and Japans leading logistics prover SG Holdings (9143 JP: +12.38%) more than offset losses in select China-linked consumer and healthcare exposure including Wuxi Biologics (2263 HK: -8.70%), Ping An Healthcare and Technology (1833 HK: -8.59%) and “hot pot” restaurant operator Haidilao International (6862 HK: -7.91%).

IPOX® SPAC Index (SPAC) has huge week: The managed Index added a massive +8.34% to +21.38% since its July 30 launch with APEX Technology (APXT US: +39.90%) and GORES Metropoulos (GMHI US: +20.71%) driving the good showing. SPAC news include: 1) 4 SPACs Announced Merger Agreement/LOI include: a) AGBA Acquisition with units of Hong

IPOX® SPAC Index (SPAC) since live launch:

Select IPOX® Indexes Price Returns (%) Last week 2019 YTD
IPOX® Indexes: Global/International
IPOX® Global Super Liquid (IPGL50) (USD) 2.08 27.93 59.08
IPOX® International (IPXI)* (USD) (ETF : FPXI) 1.13 31.37 57.17
IPOX® Indexes: United States
IPOX® Composite (IPXC) (USD) 4.02 24.65 36.99
IPOX® 100 U.S. (IPXO)* (USD) (ETF: FPX) 5.36 29.60 40.62
IPOX® ESG (IPXT) (USD) 3.54 38.73
IPOX® SPAC Index (SPAC) (USD) 8.34
IPOX® EV Index (IPEV) (USD) 7.79
IPOX® Indexes: Europe/Nordic
IPOX® 100 Europe (IPOE)* (USD) (ETF: FPXE) 3.99 30.97 24.80
IPOX® Nordic Core (IPND) (EUR) 2.01 38.52 46.80
IPOX® Indexes: Asia-Pacific/China
IPOX® Asia-Pacific (IPTA) (USD) 2.59 4.41 44.33
IPOX® China Core (CNI) (USD) 2.78 26.31 72.13
IPOX® Japan (IPJP)** (JPY) 2.48 7.91 23.71

* Basis for ETFs: FPX US, FPX LN, FPXE US, FPXU FP, FPXI US, TCIP110 IT and CME-traded e-mini IPOX® 100 U.S. Futures (IPOZ0). Source: Bloomberg

IPOX-linked ETFs (FPX, FPXI, FPXE) Movers (Last Week in %):

Kong-listed Financial Convoy; b) INSU Acquisition with digital insurance provider Metromile; c) Apex Technology with Microsoft 365 data management provider AvePoint; and d) GigCapital2 with Telehealth providers UpHealth and Cloudbreak. 2) SPACs Completed Business Combination include Kensington Capital with EV battery maker QuantumScape (QS). 3) 1 SPAC reportedly terminated proposed merger include: a) GreenVision terminated combination agreement with Accountable Healthcare America (AHA). 4) 7 new SPACs IPO’d.

IPO Deal-flow Review and Outlook: At least 11 firms IPO’d across the global markets last week, with the average (median) equally weighted deal adding +29.67% (+33.33%) based on the final offer price and respective close. Upsized, above-range “the Amazon of Russia” Ozon (OZON US: +33.33%) surged during the shortened U.S. trading week. Abroad, Swedish pension savings and investment platform Nordnet (SAVE SS: +8.23%), quadruple its valuation compared to its market value when taken private in late 2016. Chinese real estate developer Evergrande’s property services unit Evergrande Services (6666 HK) and Macquarie-backed Australian’s software company Nuix (NXL AU) are lined up. Other IPO news include: 1) and Saudi Arabis’s Sabic weigh IPO for its logistic unit and specialty chemicals business respectively. 2) SoftBank-backed real estate brokerage Compass in talk of IPO. 3) Russian online cinema Ivi and German online luxury retailer Mytheresa file for U.S. IPO.

Track global deal flow live on:

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, November 29th, 2021
Read More
The IPOX® Week, November 22nd, 2021
Read More
The IPOX® Week, November 15th, 2021
Read More
The IPOX® Week, November 8th, 2021
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.