Investors should be wary of piling into initial public offerings (IPOs) because for every Nvidia,Google,Apple or Microsoft that turns out to be a big winner,there are thousands of losers.
This week’s Bulls N’ Bears ASX Runner of the Week is … Schrole Group. Its shares jumped 187.5 per cent,while the new listing of Guzman y Gomez was also a hit.
The Guzman y Gomez float was an astounding success,which makes justifying the jaw-dropping valuation on the stock much harder for investors.
Mexican fast-food chain Guzman y Gomez has clinched its place as the hottest float in years,soaring to a valuation of more than $3 billion on Thursday.
The Australian sharemarket was slightly lower on Thursday,with shares in consumer staples and healthcare companies showing weakness while financials extended recent gains.
The burrito chain,which has been eyeing an IPO for years,has had to pull forward its plans on the back of investor demand.
Australia’s fastest growing Mexican fast food chain has appointed a retail executive to share the top job with founder Steven Marks.
Founder Steven Marks has shaken off a health scare and has revealed his burrito chain’s financial figures to the public ahead of a hopeful Initial Public Offering in 2024.
Steven Marks has his hands full opening several new stores a week,but still harbours intentions to list the Mexican fast food business on the ASX.
It seems a new Guzman Y Gomez Mexican taqueria opens every other week.