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Bank of America downgrades hot IPO and Nvidia derivative CoreWeave, citing valuation

CNBC: Investing

billion initial public offering raise marked the largest tech offering on Wall Street since 2021. "However, with stock trading at 25x CY27e EBIT, a premium to the peer group at 16x, we believe much of the upside is priced in." " CoreWeave went public in late March. CoreWeave's $1.5

IPO 106
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Analysts move to the sidelines on CoreWeave stock after big surge since IPO

CNBC: Investing

Its initial public offering earlier this year was the biggest technology IPO since 2021. Analysts at Mizuho Securities and Stifel downgraded the artificial intelligence cloud computing stock to hold in the last 24 hours. Mizuho's $150 per share target implies a slide of about 6%, while Citi's $160 forecast is roughly 0.1%

IPO 77
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Best Stocks: The Amazon of South Korea that's regaining investor attention after four years in exile

CNBC: Investing

The company went public to a great deal of fanfare in March of 2021 during the IPO bubble. Risk management Josh here — CPNG, despite its rally this year, is still in a 40% drawdown from the '21 peak despite the fact that it is now a much bigger, more successful business than it was at the time of its IPO. Until now.

Stock 62
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HKEX’s chief executive to step down with new succession plans in place

The TRADE

Having held the role since May 2021, Aguzin will be replaced by Bonnie Yiting Chan, who will assume the role on 24 May 2024 for a term of three years. Before joining HKEX, she was a partner of Davis Polk & Wardwell from 2010 to 2019, where she oversaw a wide portfolio of clients in Hong Kong and across Asia.

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Behind the Buyouts: Solomon’s Leonhardt on Consumer M&A Resurgence

The Deal

Direct-to-consumer businesses, darlings of the investor community in 2021, saw their techlike valuations plummet. Public markets, however, have been tepid, with the much-awaited IPO of L Catterton Management Ltd. portfolio company Birkenstock GmbH & Co. portfolio company Birkenstock GmbH & Co.

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“Dumb Money” Review: A Worthy Addition to the Classic Finance Movie Roster?

Mergers and Inquisitions

And that is exactly what happened when I watched Dumb Money , the movie about the GameStop short squeeze in 2021 , the other day. Oh, and lots of M&A , IPO , and SPAC deals were happening, so banks made plenty of “COVID hires,” often ignoring qualifications and recruiting norms. I wrote many articles about it.

Finance 105
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Growth Equity: The Child Prodigy of Private Equity and Venture Capital, or an Artifact of Easy Money?

Mergers and Inquisitions

Others would counter that growth equity’s rapid ascent was mostly due to the easy money that persisted between 2008 and 2021. This style is about purchasing minority stakes in cash-flow-negative-but-high-growth companies that want to scale and eventually go public or sell (think: Uber or Airbnb before their IPOs).