It’s already Spring in the IPO market this year as pricings and plans are expanding quickly. This was a very busy two-week period with 16 pricings, which has depleted the short-term pipeline with almost no deals in active marketing right now.
Several of the latest pricings are names we will be adding to our IPO Candy ecosystem, including: NeoPhotonics (NYSE:NPTN), Epocrates (NASDAQ:EPOC), Endocyte (NASDAQ:ECYT), Gevo (NASDAQ:GEVO), Fluidigm and AcelRx.
Although there are few if any deals in active marketing right now, investors are eager to see how LinkedIn (NYSE:LNKD) performs and new filings like Pandora and Freescale will be closely watched. We’re also interested in The Active Network, which provides online services to activity-focused organizations.
Our IPO Ecosystem continued to appreciate ahead of the market with an average gain of 3% for the past two weeks. The top 10 names were up 22% and the bottom 10 were down 11%.
The attention and activity for more active secondary markets for private company stock and the “IPO Renaissance” has continued unabated.
Meanwhile, the tables below summarize the high and low points for IPO names in January.
|Top 5 for First Half of February|
|Meru Networks||MERU||+38%||Wireless Network Eq|
|Calix||CALX||+25%||Broadband NW Eq|
|Fabrinet||FN||+19%||Makes Optical NW Parts|
Fortunately, a good portion of the top performers are also in the IPO Candy Folio.
|Bottom 5 for First Half of February|
|ChinaCache||CCIH||-24%||China CDN (Akamai)|
|FXCM||FXCM||-14%||FX Trading Platform|
|SMART Tech||SMT||-13%||Interactive Whiteboard|
|Amyris||AMRS||-9%||Biomaterials & Fuels|
See the IPO Candy Performance page below for more details.
Selected Company Morsels
Higher One (NYSE:ONE) partnered with an industry expert to provide financial literacy and tips to their college-based customers. Not a big deal but an interesting additional element to their strategy.
Tesla (NASDAQ:TSLA) has expanded their automobile battery recycling program to Europe. Initial reactions to their “closed loop” system have been positive, and the company is said to be able to even make a profit doing it.
China Intelligent Lighting (CIL) expanded their distribution in China with 300 companies there. This LED play remains largely off the investment radar screen.
RealD will be offering the first ever opera in 3D. Carmen will be released nationwide on March 5th. This is an interesting test of “alternative content” for the theater venue.
TeleNav (NASDAQ:TNAV) is offering their GPS navigation mapping software on the Verizon iPhone as a free application. This small player continues to gain momentum.
IPO Candy Folio Update
The IPO Candy Folio was up 5.6% for the first two weeks of February and is now up 12% YTD.
We made fairly extensive adjustments to the portfolio two weeks ago and these are described in the prior Candygram.
The managed portfolio approach has worked very well, and our partnership with Folio Institutional for delivering this service has made it clear that everyone can have access to these services and pay much less than what other management platforms, funds and brokers require. Although we have six-figure investments in the IPO Candy Folio there are also many that are under $1000.
We’re going to use this lull in the short term to focus in on several deals, including LinkedIn, to complete company snapshots like the one we did for NeoPhotonics.
Meanwhile, there are about 40 deals that have filed and are likely to be included in the IPO Candy Ecosystem. See the updated pipeline table in the IPO Candy Ecosystem for more details.
Coverage and the Calendar
There are no coverage events or additional lockup expirations scheduled for this month.