Great thread. Firstly, I don’t judge an ipo as being successful or not on day one.
For a ipo to be successful i think the figures aren’t as important as the story although I do like to see a hint in the figures that the company is on the right track. I think some intellectual investors are too fixated on the figures and fail to consider the market sentiment upon listing. I ask myself do I like the story, do I think the market will like the story, is the story easy to understand, is there something to look forward to in the story.
When the P&L is impressive the mc is usually higher and the story has already been somewhat told which means less speculation and less chance of a spike in sp.
My next ipo is AFL. I like the story but I’m not sure the market will on day one .
