An Oldie But A Goodie IPO
By Thu, Jul 15, 2021
Hey Scoopers,
After a session full of mixed sentiments, the stock market ended with near-zero gains. — More on that in the “Overall Market” section.
Beyond the overall market, a tech titan boosts its smartphone production to meet the higher demand in 2021. Meanwhile, a freelance work platform’s investors seemed to change their point of view regarding the company’s strategy. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, an oldie but a goodie company is going public soon. Would you invest?. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: The stock market ended mixed on Wednesday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price stayed at $32K per coin.
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Not Expecting Changes
The stock market barely added or lost points on Wednesday.
Despite the volatility during Wednesday’s session, the market closed near-zero gains. Investors shared mixed sentiments about second-quarter corporate earnings that came along with more inflation data. Although prices registered their fastest growth since 2008, the markets believe the Federal Reserve Chair Jerome Powell’s appearance won’t bring news of a new inflation control approach.
Expecting More Demand
So, what happened?
Shares of Apple (Ticker: AAPL) were up by more than 2% on Wednesday. After the tech giant reportedly set a higher production rate for its next iPhone, bullish investors believe the demand for the new device would substantially increase. According to the report, Apple is preparing to boost production by 20% compared to 2020. It represents more than 90 million iPhones in 2021. Moreover, the stock valuation led Apple’s market cap to a staggering $2.5 trillion for the first time.
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Changing Their Minds
So what happened?
Shares of Upwork (Ticker: UPWK ) were down by more than 17% on Wednesday. Although the freelance work company’s investors disagreed with analysts’ analysis on Tuesday, the sell-off served as a clue that investors might have changed their minds. There was no specific lousy news related to the company. However, the markets expect slower growth for Upwork’s second quarter as the company shifts to a more aggressive strategy with its Work Marketplace.
Weber is Going Public
So what happened?
Although its story started more than 70-years ago, the grill-maker Weber never had serious plans of going public. However, the company finally filed to go public via an IPO. With a $1 billion revenue in the last six months, Weber’s sales were up by more than 62% compared to the same period in 2021. Better than that, the company also grew its market share since last year. Now, one in four grills sold worldwide is Weber. After the IPO, Weber’s valuation could reach $6 billion in value. Furthermore, the company has its main card on brand recognition. 87% of Americans are aware of the brand, making Weber the top mind brand for modern grills.
Now more than celebrating your backyard party, you can invest in your favorite barbecue brand.
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.
About the Author
Felipe Nebesnyj is an Economics student who is passionate about the stock market and investing in the market. Originally from Brazil, he is working and studying in the U.S. and started learning about and researching the stock market at 16. Before joining Stock Card, Felipe worked on multiple stock market research projects that gave him the necessary knowledge and confidence to put into his stock market analyst career at Stock Card. Last but not least, he is an excellent violinist and enjoys video games.
