Episode 73: Markets turn positive with 15 IPOs set to go public

We kick off the week with the markets moving positive today with treasury yields pulling back a bit.   

• Tesla gained on Monday after Ark Invest' Cathie Wood issued a $3,000 per share price target by 2025 on the electric carmaker. The bold call implies Tesla's stock will quadruple in less than four years. Tesla's largest holding is Ark's flagship fund. 

• Bitpanda has hit a $1.2 billion valuation with its latest round, as mainstream investors increasingly open up to cryptocurrency startups and bitcoin climbs to record heights. Led by Valar Ventures, the $170 million Series B makes Vienna-based Bitpanda, which operates a cryptocurrency trading platform, the first Austrian unicorn.  The investment is also the latest example of a funding surge for cryptocurrency startups, which have raised over $1.8 billion so far this year—more than half of 2020's total.

• Sustainability linked bond market is to swell up to $150 billion: JPMorgan ESG DCM head. The market for bonds that are linked to companies meeting certain environmental goals could grow 20-fold this year to between $120 billion and $150 billion, as businesses look to tap into booming demand.

Market Close 

Dow 30 32,730.35 +102.38 (+0.31%)

Nasdaq 13,377.54 +162.31 (+1.23%)

S&P 500 3,940.56 +27.46 (+0.70%)

IPOs

15 IPOs are currently scheduled to raise $5.7 billion in the week ahead as IPO activity continues to pick up. The diverse group spans six sectors and includes cleaning products, defense technology, low-cost TVs, crafting machines, and more.