US IPO Week Ahead: DiDi makes its billion-dollar debut in a 17 IPO week
17 IPOs are slated to raise $9.1 billion in this week, led by long-awaited Chinese ride-hailing giant $DiDi Global Inc.$.DiDi plans to raise $3.9 billion at a $67.5 billion market cap. DiDi is China’s dominant ride-hailing app, with 15 million drivers across 4,000 cities and towns. The unprofitable company saw revenue more than double in the 1Q21 as its business recovered post-pandemic.New and existing investors intend to purchase $1.3 billion of the IPO.Cybersecurity platform $SentinelOne, Inc$
GameStop Joined the Russell 1000. The Move Might Hurt the Stock.
The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.The videogame retailer officially made it into the Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.As one of the stocks favored by retail traders this year, GameStop met that thresho