Articles by Michael Okonkwo
AEVEX Soars 35% in NYSE Debut, Raising $320M in Defense-Tech IPO
AEVEX shares closed at $26.93 on their first trading day, a 35% jump from the $20 IPO price. The defense-tech company raised $320 million as it capitalizes on heightened military demand for unmanned systems.
Cerebras IPO and OpenAI Deal Challenge Nvidia's AI Chip Supremacy
AI chip challenger Cerebras Systems has filed for a U.S. IPO while reporting a swing to profitability and a potential $20 billion server deal with OpenAI, creating new competitive pressure on market leader Nvidia.
Amazon's Globalstar Move Heightens Focus on SpaceX's Record IPO Valuation
Amazon's major satellite acquisition intensifies the market's focus on SpaceX's upcoming IPO, which seeks a historic $1.75 trillion valuation. The offering's roadshow is set for early June, with retail investors potentially receiving an unusually large 30% share allocation.
OpenAI Hits $852B Valuation, Expands Investor Access Ahead of Potential IPO
OpenAI has secured a $122 billion funding round, valuing the company at $852 billion, while raising over $3 billion from individual investors. The AI firm also announced its shares will be included in several ARK Invest ETFs prior to a potential public listing.
Fundrise VCX Fund Skyrockets 1300% Over Asset Value in Wild Trading
The Fundrise Innovation Fund (VCX) saw its shares surge more than 1300% above net asset value in a chaotic trading session, driven by intense demand for its portfolio of private tech giants like Anthropic and SpaceX.
Fundrise VCX Soars on NYSE, Defying Market Downturn as AI Craze Fuels Demand
Fundrise's VCX, a public venture capital fund, closed at $117.70, up 54.5% since its NYSE debut, trading at a steep premium to net asset value. The fund's heavy allocation to private AI companies drove demand despite broader market declines.
Swarmer Shares Plunge 30% Post-IPO, Highlighting Volatility Risks
Swarmer's stock tumbled over 30% in Friday's session, a sharp reversal after its Nasdaq debut. Despite the drop, shares trade significantly above the initial offering price set last week.
Fundrise Innovation Fund Soars 55% in NYSE Debut as Retail Flocks to Private AI
Fundrise Innovation Fund shares skyrocketed 54.5% to $117.70 in their second day of NYSE trading, valuing the fund at more than six times its March 2 net asset value. The closed-end fund provides retail access to private artificial intelligence companies.
Swarmer Soars Post-IPO as Battle-Tested Drone Software Captures Investor Interest
Swarmer shares skyrocketed 77% to $55, building on a 520% first-day pop from its $5 IPO price. The drone software firm, with over 100,000 combat missions in Ukraine, faces significant financial challenges and customer concentration risks.
Walmart's Flipkart Shifts Legal Base to India, Paving Path for Domestic IPO
Flipkart has relocated its holding company from Singapore to India, a key step ahead of a planned domestic initial public offering. The move allows Walmart to better capitalize on its $16 billion investment in the Indian market.
Robinhood Slashes IPO Size for New Private Markets Fund
Robinhood Markets has significantly reduced the size of its first private-markets fund IPO, pricing 12.6 million shares at $25 each. The move comes as the trading platform broadens its offerings to target wealthier clients.