12/06/2021: Weekly Newsletter
“Can you break down the Sweet Green IPO'?”
-Matthew
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SweetGreen, the chain that made salads the new fast food, went public recently.
11/9: SweetGreen starts roadshow for its public listing. A roadshow is basically like the ulitmate powerpoint presentation. The company goes around to different investors and basically articulates what’s great about the company’s business model and talk through meticulously crafted slides presentation, that is a prettier version of this S-1 propsectus (an unsexy looking, but usually very informative document required by the SEC to go public). The company’s executives also answer a lot of questions from investors. Estimates during this period said that shares would be sold for around $23 - $25 per share.
11/18: SweetGreen says shares will be sold at $28 per share (a little higher than the estimated price during the roadshow, which indicates that there was strong investor demand to buy these shares).
11/19: First day of actual trading starts on the stock exchange. At the end of the day, shares end at $52.70. This means that if you had been able to get shares at $28 per share on 11/18, you would have already been able to almost double your money. Not too bad for 1 days work.
12/05: As of the writing of the newsletter, the shares closed at $24.82. This means that the shares have fallen back to around the price they were estimated at around the IPO. This could be due to the general stock market dip that has occured recently from the COVID Omicron variant news.
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Money & Crypto
What are NFTs (Non-fungible tokens) and mapping the eocsystem (Visual Capitalist)
Citadel CEO bought a copy of US Consitituion for $43M, outbidding a group of crowdsourced crypto investors who raised $40M (WSJ). While this crypto pool didn’t win the bid, I think this is an interesting use case for crypto that we will continue to see—crowdsourcing many buyers togeter to purchase art, collectibles, real estate, and other assets.
How companies adjust prices during inflation (WSJ)
Bitcoin falls as stock market falls (WSJ)
🎧 The current wave of venture capital (VC) funding (The Economist)
FTX gets funding at $32B valuation (Coindesk)
BitMart exchange hacked (The Block Crypto)
Tech & Science
New Twitter CEO is Parag Agrawal as Jack Dorsey steps down (WSJ)
FTC sues to block Nvidia’s acqisition of Arm (Wired)
Etc.
🎥 14 Peaks is an AMAZING story about Nimsdai Purja from Nepal who hikes all 14 mountains above 8,000 meters in a record 7 months. It is unbelievably inspiring and jaw dropping. #projectpossible
Petra Mayer, Books editor for NPR who helped curate the wonderful book concierge, passed away
Tennis player Peng Shuai has disappeared since accusing a Chinese poltician of sexual assault
🎧 📖 My friend and I talked about Eight Hundred Grapes by Laura Dave on Not So Silent Reading. Our next book will be Killers of the Flower Moon by David Grann.
🎧 I’ve been listening to the podcast The Shrink Next Door which is a wild story about a therapist and his patients
🎥 I binged watched Virgin River and it lives up to the hype
🎥 SPOILERS: The finale of this year’s Great British Bake Off was fantastic
Disclaimer: All opinions are my own. The content on this site and on the podcast does not constitute financial, legal, accounting, tax, or investment advice.
