AM (I PO)INTING OUT THE OBVIOUS?

Hello and thanks for reading this week’s No Straight Lines Investments blog, I appreciate your time and attention.

Circle Internet Group IPO’d this week at $31/share, and closed the week at $107.70/share, for a tidy 247% move.

Circle is the issuer of $US-backed stablecoin, USDC.

The most interesting fact I can share about CRCL is that it attempted a SPAC in 2021 and failed……I mention this half tongue-in-cheek because my admittedly limited perspective was that every SPAC was flying off the shelves in 2021.

As a barometer for IPO demand, will CRCL’s post-listing price performance encourage other potential issuers to move forward with their own offerings?

We know that aftermarket returns of new issues are the most closely watched metric for potential investors/investment bankers.

Tables from Bespoke Investments

Bespoke Investments put out a great piece this week examining 45 recent IPO’s and their respective price performance.

I can guarantee some version of these tables is being included in every IPO pitchbook right now!

Why should you care about the IPO market?

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This week I add a name to the portfolio from the consumer discretionary square.

If this is it, thanks for reading. Good luck with your investments!

You can follow me on X (@NSLInvestments), LinkedIn: Jonathan Lansky or using the Chat feature on the Substack app.