For those of you interested in looking at the performance of the new IPO listings on the Australian and US markets I have put together a watchlist showing various measures, such as percentage change, IPO date, and drawdown from the high. (Note: Optuma clients can download the watchlists at the end of the article.)
The lists were created from these sources, and can be referenced to manually update the lists:
To date there have been 35 new listings on the ASX this year, with the best performer – based on the opening trading price and not the offering price – is Uniti Wireless (UWL) which is up over 300% from it’s February debut, followed by Next Science Ltd (NXS) at 111%. However, both are down significantly from their June highs, as seen in the ‘% from ATH’ watchlist column and the red plot on the chart:
Of the new listings in the US, Beyond Meat (BYND) is up the most from it’s opening traded price of $46 on May 2nd, but it has also fell almost 40% from its high in July. Other high-profile listings – such as Uber, Lyft, and Slack (WORK) – are all well below their first traded price. And I hope none of you got in to Guardion Health (GHSI)!
Optuma clients with US data enabled can open the attached workbook and sort by any column, such as % from the All-Time High – currently Avedro (AVDR) which has doubled since February:
If you are interested in seeing the scripting formulas used to calculate the columns, right-click on the column header and select Edit Column to open the Script Editor window. For example, the IPO Open price is simply FIRST(OPEN()), and the IPO Date is FIRST(BARDATE()) with the Column Type set to Date and the Date Display Style set to Date. Note the Days Since IPO column is the same script as the IPO Date column but the Date Display Style has been set to Day Count:
Of course, the page can be saved as a layout which can then be applied to any list. For example, the major US tech stocks that show that Amazon has gained an incredible 93,000% since it’s debut in May 1997 at a split-adjusted $1.96, compared to ‘only’ 38,000% for Apple since 1982!
Optuma clients with Australian or US data can save and open the workbooks by clicking the buttons below.
Darren Hawkins, MSTA
Senior Software Specialist at Optuma
Darren is the senior Software Specialist at Optuma. He joined the company in 2009 after attending an introductory technical analysis course. Darren now instructs users all over the world, from experienced Wall Street traders and professional money managers to individual traders drawing their first trendlines.
Darren grew up in the UK and attended college in the USA where he earned a BA in Economics from St Mary's College of Maryland. He went on to spend a few years working at the Nasdaq Stock Market in Washington DC. Going on to live and work in Australia, the US and currently the UK, Darren has a broad understanding of the individual needs of traders, portfolio managers and investors utilising a wide range of methodologies.
In 2014 Darren passed the UK-based Society of Technical Analysts diploma course, and is in the process of studying for Level 3 of the CMT Program.
When not looking at charts, Darren keeps a keen eye on England's cricket team - especially if they are playing against Australia. He lives in the Essex countryside in England, with wife Wendy and their labrador, Gabba.