Articles by Michael Okonkwo
Geothermal Developer Fervo Energy Soars 35% on Nasdaq Debut Amid AI-Driven Power Demand
Fervo Energy closed 35% above its IPO price in Nasdaq debut, valuing the geothermal firm at $10.36B, as AI power needs drive investor enthusiasm.
SoFi Acquires PrimaryBid's IPO Platform, Stock Dips on Analyst Outlook
SoFi acquires PrimaryBid's IPO allocation tech to boost retail access. Stock drops 2.9% to $15.44 after Truist cuts target, citing platform concerns.
Cerebras IPO Skyrockets with Overwhelming Demand, Targeting $50B Valuation
Cerebras Systems is set to price its IPO above the $150-$160 range due to massive demand, with orders 20 times available shares, targeting a $50 billion valuation.
SoFi Technologies to Acquire PrimaryBid, Expanding Retail IPO Access
SoFi Technologies is set to acquire most of PrimaryBid, aiming to expand retail investor access to IPOs. The deal sent SOFI stock up 1.7%.
Applied Digital's Cloud Spin-Off ChronoScale Begins Trading; APLD Retains 97% Stake
Applied Digital's cloud unit ChronoScale (CHRN) started trading on Nasdaq, with APLD retaining 97% ownership. The spin-off aims to separate risk profiles, while APLD secured a $300M bridge loan for its North Dakota data center.
Destiny Tech100 Surges on SpaceX IPO Buzz, Premiums Soar
Destiny Tech100 shares surged 21% to $54.60 on Friday, fueled by SpaceX IPO anticipation. The closed-end fund now trades at a 173% premium to its NAV.
HawkEye 360 Soars 30% in NYSE Debut, Highlighting Defense-Space IPO Demand
HawkEye 360 shares jumped 30% in their NYSE debut after a $416 million IPO, valuing the firm at $3.15 billion. The company specializes in satellite-based signals intelligence for defense and government clients.
Baidu's AI Chip Arm Kunlunxin Pursues Dual Listing in Shanghai and Hong Kong
Kunlunxin, Baidu's AI chip unit, has initiated a Shanghai STAR Market IPO process while maintaining its Hong Kong listing plans, boosting Baidu shares by 5.75%.
HawkEye 360 Surges 30% in NYSE Debut After $416M IPO
HawkEye 360 shares opened 30% above its IPO price on the NYSE, valuing the company at $3.15 billion. The IPO raised $416 million amid strong demand for defense and space stocks.
Sivers Semiconductors Soars 33% on U.S. Listing Hopes
Sivers Semiconductors AB shares surged 33% in Stockholm on Monday, driven by a planned SEK 125 million share issue and potential U.S. Nasdaq listing.
X-Energy's IPO Surge Faces Reality Check Amid Nuclear Ambitions
X-Energy shares rose 33% from IPO price to $30.53, but fell from weekly highs. Kentucky utilities explore its Xe-100 reactor as the company tackles licensing and construction challenges.
