Are all IPOs worth investing in?
Are all IPOs worth investing in?
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從免費入門課程到高級交易策略，我們的目標是幫助您增長知識和更聰明地交易。讓我們讓投資變得更容易，而不是孤軍奮戰。
--Moomoo新聞團隊
Chapter 6, October 28
第六章，10月28日
By Debby
黛比(Debby)著
What's new?
有什麼新鮮事嗎？
Shares of $MediaAlpha Inc(MAX.US)$ soared in their market debut Wednesday on October 28, 2020.
的股份$MediaAlpha Inc.(MAX.US)$2020年10月28日週三，它們在市場上首次亮相時飆升。
MediaAlpha shares opened at $23 and ended trading at $31.15, a 64% jump.
MediaAlpha股價開盤報23美元，收盤報31.15美元，大漲64%。
MediaAlpha collected $175.8 million late Tuesday, after selling 9.25 million shares at $19 each, the midpoint of its $18 to $20 price range.
MediaAlpha週二晚些時候募集了1.758億美元，此前該公司以每股19美元的價格出售了925萬股票，這是其18至20美元價格區間的中點。
MediaAlpha CEO Steve Yi said in an interview,
MediaAlpha首席執行官史蒂夫·易在接受採訪時表示，
I’m thrilled with the IPO and what it means for our team members.
It’s an opportunity to reward their commitment, to recognize their hard work. It’s a milestone. Also, it’s the start of an exciting new phase and the start of our journey.
我對首次公開募股(IPO)以及它對我們團隊成員的意義感到興奮。
這是一個獎勵他們承諾的機會，表彰他們的辛勤工作。這是一個里程碑。同時，這也是一個激動人心的新階段的開始，也是我們旅程的開始。
MediaAlpha uses artificial intelligence and data science to help insurance carriers find customers online. The company provides a digital-advertising platform to draw customers to insurance carriers.
MediaAlpha使用人工智能和數據科學來幫助保險公司在線尋找客户。該公司提供了一個數字廣告平台，以吸引客户到保險公司。
However, another insurance company $Root Inc(ROOT.US)$ didn’t fare as well. Its much larger IPO initially rose 9%, then dropped below its $27 price before rebounding to end where it started.
然而，另一家保險公司$Root Inc.(ROOT.US)$結果不是很好。其規模大得多的首次公開募股(IPO)最初上漲了9%，隨後跌破27美元的價格，隨後反彈至開盤價。
Are all IPOs worth investing in?
所有IPO都值得投資嗎？
Apparently, not all investors should invest in IPOs on their debut days.
顯然，並非所有投資者都應該在IPO首日投資。
When investing in an IPO, it is important to understand that it is akin to investing in the growth of a small company, a sunrise industry, a large corporate opening up to retail investors and being a part of its growth journey.
在投資IPO時，重要的是要明白，這類似於投資於一家小公司的成長，一個朝陽行業，一個向散户投資者開放的大公司，併成為其增長之旅的一部分。
Hence, it is important to take a good look at the company, the nature of business, its track record, management, competition, and its business outlook. A company in the growth stage may offer more potential for long-term capital appreciation.
因此，很重要的一點是要看清楚公司、業務性質、過去的記錄、管理、競爭和業務前景。處於成長期的公司可能會提供更多的長期資本增值潛力。
The valuation and the attractiveness of the IPO price band can be analyzed by reviewing the financials of the company, referring to research reports or by comparing with the valuation ratios of similar companies. This will give you a holistic view of the company’s prospects and help him understand if the IPO is overpriced, under-priced or fairly-priced.
IPO價格區間的估值和吸引力可以通過審查公司的財務狀況、參考研究報告或與類似公司的估值比率進行比較來分析。這將讓你對公司的前景有一個整體的看法，並幫助他了解IPO是高價、低價還是公平定價。
You could check a newly-listed company's prospectus under the News, Announcement section on moomoo:
你可以在Moomoo上的新聞和公告部分查看一家新上市公司的招股説明書：
Source: moomoo
來源：Moomoo
Only companies with big growth potentials and reasonable valuation are worth investing in.
只有增長潛力大、估值合理的公司才值得投資。
Source: Barron's, economictimes
資料來源：Barron‘s，EconicTimes