Articles by Michael Okonkwo
SpaceX Stock Wobbles Amid Index Rebalance and Wide Valuation Gap
SpaceX shares settle at $162, up from IPO but below peak, with analyst targets spanning $63 to $310 and index-tracking demand driving short-term volatility.
Apotex Health Shares Surge 4.75% on TSX, IPO Value Swells by C$620 Million
Apotex Health Corp. (TSX:APTX) rose 4.75% on Friday, lifting its IPO block value by C$620 million. The gains follow the close of its $100 million Cumberland Pharmaceuticals acquisition and a Health Canada nod for its generic semaglutide.
SL Science Rockets 35% in Nasdaq Debut, Valuation Hits 1,500x 2025 Sales
SL Science (SLBT) soared 35% in its Nasdaq debut, closing at $5.99, but its $3.36B market cap versus $2.2M in revenue sparks valuation debate.
IQM Quantum Computers ADS Debut Valued at $3.5B, Trading Paused for US Holiday
IQM Quantum Computers (IQMX) ADS closed at $13.36 on its Nasdaq debut, giving a $3.51 billion valuation, before the market closed for Independence Day. The stock trades at a high multiple of 97x 2025 revenue.
Bending Spoons Debuts Strong on Nasdaq with AOL Profit Driving Valuation
Bending Spoons S.p.A. closed at $40.50 on its Nasdaq debut, up 39.66% from the $29 IPO price, with AOL's historical operating income making up 66% of pro forma earnings.
Lime Parent Neutron Holdings Rises 4% in Nasdaq Debut
Neutron Holdings (Lime) closed its Nasdaq debut at $26.00, a 4% gain from its $25 IPO price, with a modest first-day performance.
Bending Spoons Soars 42.8% on Nasdaq Debut, Closing $720 Million Gap
Bending Spoons (NASDAQ:BSP) closed its first trading day at $41.42, up 42.8% from its $29 IPO price, adding $720 million to its market value.
India IPO Market Poised for Record Year as Deal Activity Accelerates
Kotak Investment Banking predicts a record year for Indian IPOs in 2024, with deal activity accelerating after a slow start. Strong investor demand supports the outlook.
Generate Biomedicines Shares Reclaim IPO Price After Heavy Trading Week
Generate Biomedicines (GENB) surged 13.7% in a week, closing Friday at $16.47—above its $16 IPO price—with heavy volume and a $2.11B market cap, as sector momentum lifts biotech stocks.
Bending Spoons IPO to Test Appetite for Debt-Heavy Software M&A
Bending Spoons (BSP) accounts for 61% of next week's $2.56B U.S. IPO proceeds, with a $1.57B raise that will test investor appetite for debt-heavy software M&A.
SpaceX Slumps After Russell Inclusion, Growth Funds Bear $73B Exposure
SpaceX shares dropped 32% from their peak after joining the Russell indexes, with growth funds shouldering $73.1 billion of the $80.9 billion notional. Passive trackers must buy over $4 billion, while S&P 500 inclusion remains off the table.