Last week was a pretty busy one for IPOs. Pet supply retailer Chewy went public at the end of the week, and so did Fiverr—a startup marketplace for freelance projects. The cybersecurity company CrowdStrike crushed expectations with its IPO earlier in the week. Plus, Alibaba filed for its stock to be listed in Hong Kong five years after the company’s record $25 billion listing in New York.
We also saw some huge moves in Disney and airline stocks, big announcements at E3 from both gaming companies and semiconductor names, a major CBD patent, and a whole lot more. Here’s what you need to know this morning as we head into a new week.
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Fiverr went public
Fiverr, a marketplace for freelance projects, saw its stock jump 90% on Thursday, the day of its IPO. The startup, founded in 2010, had raised $111 million from investors before its stellar listing. Here’s how Fiverr is leveraging the sharing economy alongside some huge names.
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CrowdStrike crushed expectations
The cybersecurity company CrowdStrike also went public last week. It closed almost 71% higher than its IPO price on Wednesday. Prior to the IPO, CRWD had raised $481 million, taking its total capital raised to $1.1 billion. Find out what led to the stock’s monumental opening performance.
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Chewy’s strong growth
Meanwhile, pet supply retailer Chewy was listed on Friday after raising $1 billion. Unfortunately, like most high-profile companies that have gone public this year, the company is deep in the red. And while its strong growth might not compensate for heavy losses, it still has some big plans.
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Will Alibaba take on more unicorns?
On Wednesday, Chinese e-commerce giant Alibaba confidentially filed paperwork for a Hong Kong listing. Companies usually take two or three months to launch their share offerings after submitting the paperwork. Alibaba raised a record $25 billion through its New York listing in 2014, and it could raise billions more with the Hong Kong listing. That kind of money would give the company a lot more opportunity to continue investing in startups.
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Disney’s big moves
On Thursday, Disney stock rallied after Morgan Stanley analyst Benjamin Swinburne raised his price target for the company. Swinburne based his upgrade on optimism about the company’s upcoming Disney+ streaming service and its potential for huge rewards. The competition is heating up in the streaming space following some recent key announcements.
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E3 takeaways
E3 descended upon Los Angeles last week—and not without its usual share of headline-grabbing announcements. But amid all this excitement, consumer shifts and legal hurdles are forcing some companies to rethink their franchises. From chasing Fortnite‘s success to Nintendo’s ups and downs at the expo and Microsoft’s alleged “future of gaming,” here are the main takeaways for gaming stocks.
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Blue Apron’s reverse stock split
Blue Apron’s board approved a reverse stock split of 1-for-15 for its Class A and Class B common shares, effective Friday evening. The reverse split was intended to raise the stock price to comply with the NYSE listing standards and improve its liquidity. Find out why the stock has been struggling—and how the market reacted to the announcement.
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Massive gains for airline stocks
US airline stocks gained hugely last week after JPMorgan Chase analyst Jamie Baker said carriers are raising fares faster than expected. Baker commented, “We are pleased that our skepticism was proven ill-placed.” He also observed that, in addition to strong travel demand, U.S. air carriers are benefiting from a reduction in flights and seats due to the worldwide grounding of Boeing’s 737 MAX jets. Check out which stocks and ETFs benefited the most.
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A major CBD patent
Zynerba Pharmaceuticals announced on Tuesday that it received a US patent for the use of cannabidiol with autistic patients. The stock was up almost 19% following the announcement. Here’s what the CBD patent could mean for ZYNE stock, which has been a top performer this year.
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Wall Street sees upside in LULU
Consumer stocks have been on fire lately, and Lululemon is no exception. The company reported its first-quarter results on Thursday, and it beat Wall Street estimates with its impressive growth streak. Quite a few analysts raised their price targets for the Canadian athletic apparel company, expecting more upside. We take a look at some of Lululemon’s most important revenue drivers.
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Apple and Intel keep talking
We’ve been hearing for a while that Apple is in talks with Intel to buy its modem business. On Tuesday, a new report suggested that Intel might be looking to sell just its German operations to Apple. Last year, Apple reached a similar deal when it acquired its British supplier Dialog Semiconductor for $600 million, bringing in some patents and 300 employees from Dialog. But what’s so special about Intel’s German modem business?
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A golden opportunity?
It’s been tough to predict gold movements this year. Economic reports have been more or less mixed, and US-China trade optimism has curbed gold prices. Weak inflation, jobs data, and trade war jitters could encourage the Fed to cut rates sooner than expected, though, and investors have a few reasons to turn to gold ETFs right now.
This story originally appeared on Market Realist and was syndicated by MediaFeed.org.
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