IPO Market Update
Some experts believe that there are several indicators that are signaling a short term top in the market. Such a top could impact all equities, from hot penny stocks to large cap blue chips. Many compainies seem to be sensing this as well, and we have consequently seen a slew of activity in IPO market and in secondary offerings The concept behind this is very simple. It is much easier to raise additional capital in strong stock market. We are not making a market call here, but indicators like the VIX might be giving CEO’s a sign that it might be time to take some cash of the table.
Here are some blurbs on the 5 IPO’s currently slated to trade next week:
21Vianet Investment Trust (VNET:NASDAQ) Looks like this is the hottest deal of next week. We have already seen some hype on CNBC and from various internet sources. By all accounts the deal is vastly oversubscribed and the track record on recent Chinese internet IPO’s has been incredible. Morgan Stanley, JP Morgan and Barclays are the leads on the deal. As expected allocations should be tiny to very small for retail accounts.
Air Lease (AL:NYSE) Some sources are saying this deal is flat to up slightly. In the last couple of weeks mediocre deals like this one have done poorly. However, there is a strong group of underwriters behind this one, but I’d be careful on this one if the market looks week. It’s slated to trade on Tuesday.
Responsys (MKTG:NASDAQ) Small deal with Morgan Stanley and CS First Boston as leads. IPO services have this as one of the better deals and has the potential for a nice premium despite 1.1 million shares being sold by insiders.
Sagent Pharmaceuticals (SGNT:NASDAQ) This one is simple, as a rule, most people who play the IPO game stay away from pharma and biotech stock deals. This deal is rated flat by most and like most pharma and biotech IPO’s, a price reduction is possible.
Tesoro Logistics LP (TLLP:NASDAQ) Like hot penny stocks, these MLP’s draw a certain crowd, and this crowd likes yield. Recently these MLP IPO’s have done well, and TLLP is rated by some to trade at a premium. Keep in mind that wire house accounts often buy these type of offerings in the aftermarket if they are shut out on the deal. This usually creates some aftermarket support.
Stay tuned for more IPO updates, market reports and alerts on hot penny stocks.
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