Though there is only one IPO scheduled for the week, it is a big name and will likely gain a fair share of media attention. Spotify (SPOT  ) which is the worlds largest, online music service will be looking to raise around $6.7 billion. The deal is unique in the sense that the IPO will list directly on the New York Stock Exchange. The way this will work is that the opening price will be set purely by the buy and sell orders on the open.

This is the first direct listing so it's no doubt that many will be watching closely. The problem is that there is no way to know the valuation that the public will assign at the opening. Privately the shares that have already been traded have traded anywhere from $49 to $125.

Spotify says they have just over 71 million paying subscribers which accounts for 90% of their total revenue quarter over quarter. To put it into perspective, Apple (AAPL  ) only has about half that number. Despite the paying customers and the 90 million "Ad-Supported", or monthly users that pay nothing, the company still is not profitable. Cash flow has become positive recently but the company overall still loses money.

Given the direct listing, many feel that the price at the open will be much more volatile than normal. As a new, or novice IPO trader this may be one that is worth waiting out before stepping in. At the very least, many would advise to start with a small position should you be considering this IPO.