Last week was a good one for IPOs in terms of pricing and performance. Futu Holdings (FHL ), the online brokerage firm out of China, was successful in their offering, raising $90 million. This was the only profitable company to launch last week and saw a nice pop of 28% in their first day of trading.
Medical device company ShockWave Medical (SWAV ) shares also had a pop on their first day, gaining almost 80%. The company, which only has 12 million in sales over the last 12 months, saw great demand in their IPO, helping them raise 97 million.
This week there are no IPOs on the calendar, which is a little odd for this time in March. Traders are looking forward to up and coming IPOs which will include many bigger, brand-name startups here in the States. First up should be Lyft, the ride-sharing company, which is in the final stages of their prep before launching. We also expect to see Uber and other names like AirBnB, Slack, and Pinterest.
One last thing to mention is that electric car maker NIO (NIO ) shares ended their lockup period this week, which could be a problem for shares. The company just announced earnings which were a big disappointment. Its share performance since its IPO has also failed to impress investors.