Dulane, re: IPO calendar and the market?
The IPO market in my opinion is more of a lagging indicator (rather than leading one) In fact it took about a month for it to come back to life this past week with the pricing of about a dozen of deals. None of them had a impressive run, however. I don't think that under current conditions the new issues market will be well received. Unless stocks have a compelling story or stellar results, they will struggle to capture investor's attention. Of course, if something spectacular (such as Marimba.) shows up, the investor's reaction will be different. In retrospect, the IPO market had gone into a major slump after Oct mini crash. Investors avoided most newly public companies. Technology stocks, a large percentage of IPOs, were also out of favor on concerns of slowing earnings growth and over the last few weeks. Consequently, the IPOs have remained insignificant getting a share from the incoming money flows. Of course, a reduction in interest rates (??) and strong earnings reports may rally the market and the momentum may build up. But that will only confirm my opinion of the IPO market being a lagging indicator. I do not think that IPO market has recovered and barring a complete meltdown in the markets, I expect the current outlook to continue in the new issues market...
Just MHO
Regards
Seyda |
