2024 IPOs, Friko Debuts New Album, SMCI Stock Split
2024 IPOs, Friko Debuts New Album, SMCI Stock Split
By:James Melton
A weekly look inside Luckbox magazine
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4 highly anticipated IPOs for 2024
After a dismal year in 2022, most pundits expected the number of initial public offerings to increase in 2023. They didn’t—and IPO activity remains extremely depressed by historical standards.
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This time, the experts say they really mean it. Unfortunately, it’s not easy to predict when the IPO market will get hot, so we’re skeptical about the prospects for a rebound for 2024.
Despite the still-gloomy IPO environment, several key companies could debut their public shares in the stock market in the coming months, such as Shein, Reddit, Stripe and Databricks. Luckbox’s Andrew Prochnow provides details about each of the potential IPOs on the Luckbox website.
Friko debuts a string album
The members of Chicago indie rock duo Friko didn’t just write and record their debut album. Instead, they found themselves as a band, decided how they wanted to record and discovered what music they wanted to write.
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Rockhound Kendall Polidori says that process helped Friko "develop a certain clarity and confidence. Their album, Where We’ve Been, Where We Go From Here, opens with a song (Where We’ve Been) so strong it sounds like a record closer."
Tech company Super Micro Computer (SMCI) has emerged as not only one of the most important stocks in the market, but also one of the most riveting narratives in the emerging artificial intelligence sector.
A potential stock split could push SMCI shares higher
So far in 2024, shares of SMCI are up roughly 180%.
Looking ahead, one of the most important near-term catalysts for SMCI could be the announcement of a stock split. At current prices, that would likely equate to a 10-for-1 split, which would drop the price of a single share back to more palatable levels.
SMCI’s performance has eclipsed even that of Nvidia’s over the last five years, Supermicro has become a key focus on Wall Street. Demand is surging for AI-related products and services, and Supermicro has found itself at the center of a perfect storm, much like Nvidia.
With SMCI currently trading about $800 per share, that means the post-split share price for a single share of stock would be $80.
Read the latest edition of Luckbox magazine here.
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James Melton is managing editor of Luckbox magazine. @JDMeltonWriter
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