The Most Controversial IPO in History
Bloomberg reports that 1 in every 20 everyday investors in a certain country are trying to buy the latest batch of tech IPOs.
To date, they’ve wagered $163 billion (and counting) for a chance to own the next Amazon.com (AMZN).
Since the supply of IPO shares are strictly limited, though, many investors are being forced to buy stock in the aftermarket, which is generating eye-popping returns.
Consider: China Literature spiked 86% in its first day of trading, easily topping the first day gain for one of this year’s earlier “hot IPOs” – Snapchat (SNAP), which rose 44%.
While this red-hot market gets even hotter, there’s another IPO that caught my attention because of its decidedly unique characteristics.
To date, only 10,991 shares have been made available to a select group of 663 investors.
That’s particularly true because it’s not hampered by a convoluted voting right structure, which ultimately doomed Snap.
Fair warning: While this IPO represents ownership in a “powerful decision-making engine” it could be the most unconventional and controversial IPO in history. But it could also be the most profitable IPO in history, too.
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