Yet again, Wall Street and corporate insiders have had a very enjoyable pump and dump at the public's expense while stooges in government looked the other way. And of course the stoned Idiocracy is too corrupt to realize that they are being bent over the log again by the exact same people they bailed out.
This is the junk that's weighing down the Russell 2000 small cap index and the Nasdaq composite. Good luck for anyone who thinks that they're going to make a "comeback"...
I took the data for the last 100 IPOs and I sorted it by total return since the IPO date. Let's first look at some of the top performing IPOs:
The common theme as you will see, as it was in Y2K - first they were all pumped and then as they approached their insider lockup expirations, they were all dumped. Despite being the "top performers", the public shareholders are largely buried.
This is for every Dow Worshipper still saying "what bubble?"
#1 performing IPO: Intercept Pharmaceuticals
I discussed this company a couple of months ago. They have NO PRODUCT and NO REVENUES. The stock went public at $20, traded up to $480 and is now at $229. Market capitalization $5 billion. Loss per share -$17. Cash remaining per share $6.
Intercept with volume by price bars on the left:
Also, in the top 5 performers:
Insys Therapeutics
Top "Cloud" IT company: Workday (7th overall return):
Now the Bad News - The Worst Performing IPOs in the past year - all mostly dump, very little pump:
Liquid(ated) Holdings
KaloBios Pharmaceuticals
Twitter
No discussion of IPOs would be complete without showing the biggest IPO disaster of this current era on an overall size/market cap basis.
Total fucking disaster:
Total fucking disaster:
SFXEntertainment:
You may recall that this is the CEO of the above company "Special Effects Entertainment" giving a press conference below. He is kindly explaining Wall Street's approach to the general public when it comes to IPOs (and everything else):
Wall Street is still churning out the IPOs with 25 recently filed - despite the deteriorating market conditions.
And of course there are still over 100 IPO lockup expirations in the next several months:
Cumulative lockup expirations:
In Summary:
The dumbfucks at large first bailed out Wall Street and then took it up the ass all over again.
This rot is now fully embedded in both Russell 2000 (IPOs added quarterly), the Nasdaq composite (IPOs added automatically) and the NYSE Composite.
Another leg down in the Nasdaq will end this entire shit show for good:
Here is the shit-laden Nazz in a-b-c retracement off of its 200 DMA (blue line), as insiders continue to dump copious post-lockup supply onto Depends-wearing Etraders.
In the lower pane, the first indicator shows the percent of nasdaq stocks above their own 200 DMA - currently 43%. And the next pane down is % of stocks above their 50 DMA. The HFT bots are are really working it to break the index (top pane red line) back through the 50 Day using only 35% of stocks...
The Equity Put/Call: The Etrader's Option Index (20 DMA)
As we see, they are just starting to realize that they are once again the bagholders (high values indicate actual hedging taking place). Low values indicate reaching for Tesla call options. The a-b-c on the Nazz (black line) is very clear on this chart - fueled solely by massive short-covering:
Another leg down in the Nasdaq will end this entire shit show for good:
Here is the shit-laden Nazz in a-b-c retracement off of its 200 DMA (blue line), as insiders continue to dump copious post-lockup supply onto Depends-wearing Etraders.
In the lower pane, the first indicator shows the percent of nasdaq stocks above their own 200 DMA - currently 43%. And the next pane down is % of stocks above their 50 DMA. The HFT bots are are really working it to break the index (top pane red line) back through the 50 Day using only 35% of stocks...
The Equity Put/Call: The Etrader's Option Index (20 DMA)
As we see, they are just starting to realize that they are once again the bagholders (high values indicate actual hedging taking place). Low values indicate reaching for Tesla call options. The a-b-c on the Nazz (black line) is very clear on this chart - fueled solely by massive short-covering:
