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Bullish IPO Outlook
IPOs, Amazon, Foxconn
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Good Morning!
Hello there! Let’s jump into today’s exciting news:
👉 IPOs in 2024 are back 🗠
👉 Amazon joins Bezo’s exodus to Miami 💸
👉iPhone assembler Foxconn plans major investment in India 🐅
Off we go!
IPOs: 2024 Revival
The IPO market could be in full swing in 2024, with significant developments likely coming in the coming year. Multiple companies are considering an IPO, which means confidence is slowly gaining in the markets. Kim Kardashian's Skims, a lingerie brand valued at $4 billion this summer, is considering various strategic moves, including an IPO. Reddit has been in talks with potential investors that could lead to a possible IPO launch as soon as the first quarter of 2024. Rubrik, a Microsoft-supported cloud and data security venture, is also contemplating an IPO at the outset of 2024. Shein has also reached out to regulatory bodies for an IPO and begun the filing process. They were initially based in China but have since relocated to Singapore. The retailer was last valued at $66 billion.
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Source: Yahoo Finance
This list doesn’t include some of the most popular possible IPOS, which include Waystar, Fanatics, Databricks, Stripe, and Circle. The last two years have been two of the worst years ever for the IPO markets, so Wall Street is begging for a rebound in 2024.
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AMAZON: Eyes on Miami Office Space
Amazon is hunting for office space in Miami, coinciding with founder Jeff Bezos's planned relocation from the Seattle region. The company is on the lookout for approximately 50,000 square feet of office space in Florida, as confirmed by a spokesperson from Amazon. Miami is becoming an increasingly popular hub for the ultra-rich and their companies, leading to a surge in office space demand. The city has attracted numerous financial and technology companies, such as Microsoft, Citadel, and many other firms led by billionaires, who have relocated or expanded their existing operations there.
Source: Business Standard
Office space availability in Miami has now dipped below what it was before the pandemic in 2019, which has been huge for the South Florida economy. Amazon already has around 500 employees located in the Miami area, but they do not have any official real estate in Miami. It is doubtful that Amazon would ever relocate its HQ from Seattle.
FOXCONN: Reducing Chinese Risk
Foxconn Technology, a key supplier for Apple, is ramping up its investments in India. In a filing with regulators, the company revealed that it plans to invest over $1.5 billion in a yet-to-be-specified construction project in India to meet its "operational needs." Foxconn aims to reduce its heavy reliance on its extensive operations in mainland China. This is a huge development for Apple as they have looked for ways to decouple from Beijing.
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Source: NBC
This strategic shift comes mainly in the wake of significant production slowdowns caused by COVID-19 lockdowns in China. This also comes as geo-political tensions between China and the United States have reached an all-time high. Foxconn is already involved in multiple initiatives in India.
Headlines You Need To Know: 🎙
Amazon wants businesses to use its palm-scanning tech
Wells Fargo unveils 2024 target
Blackstone CEO eyes real estate deals in Europe
Billions wiped out as stock-safety trade on Wall Street misfires
‘Stop the pricing gouging’
Binance founder ordered by a judge to stay in the US
These regional banks are at the greatest risk of takeover
This exchange is expanding its short-term option bets
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Jobs’ Animation Magic 🧙
You won’t believe what Steve Jobs created that we all watch today… and no, it wasn’t the iPhone!
In the mid-1980s, after leaving Apple, Steve Jobs was on the lookout for a new venture and found it in a small graphics division within Lucasfilm known as Pixar. With an initial investment of $10 million, Jobs set the stage for a revolution in the animation industry. Despite facing significant financial and technological challenges, Jobs’ belief in Pixar’s team, particularly in the creative genius of John Lasseter, was unwavering. This faith was rewarded when, in 1995, ‘Toy Story’ was released as the world’s first fully computer-animated feature film, redefining storytelling and technology in animation. Pixar, under Jobs’ guidance, had achieved what many thought impossible.
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Source: Biography.com
Following the success of ‘Toy Story,’ Pixar went on to produce a series of hit films, including ‘Finding Nemo’, ‘Monsters, Inc.’, and ‘The Incredibles, each setting new benchmarks in animation. These successes were not only significant for Pixar but also played a crucial role in repairing the relationship between Jobs and Apple, eventually leading to his return as CEO.
Steve Jobs’ legacy at Pixar extends beyond technological advancements; he brought to life characters and stories that have become integral parts of our lives. His time at Pixar is a testament to his vision and ability to merge technology with storytelling, leaving a massive mark on the animation landscape.
Chart of the Day
📊 The price of admission tickets keeps going up. Are sporting events generally an inelastic market, or are a large portion of people on trend to being priced out?
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Source: CNBC Chart Of The Day
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GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
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Source: @wallstreetbets
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