Weekly Market Recap | Dec 02 – Dec 08

IPO’s in the week

• Jupiter Neurosciences, a biopharmaceutical company developing treatments for neuroinflammatory diseases, successfully raised $11 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “JUNS” on December 3rd, 2024, at a price of $4.00 per share.
• Jinxin Technology Holding, a leading provider of digital textbooks and educational content for K-9 students in China, successfully raised $6.5 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “NAMI” on December 6th, 2024, at a price of $4.00 per share. Jinxin Technology partners with renowned textbook publishers to offer digital versions of widely-used textbooks for primary and middle schools.
• zSpace, Inc., a provider of virtual and augmented reality educational solutions, successfully raised $9.375 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “ZSPC” on December 5th, 2024, at a price of $5.00 per share. zSpace aims to revolutionize education by providing immersive learning experiences that engage students and enhance their understanding of complex concepts.
• Linkers Industries Limited, a leading manufacturer and supplier of wire/cable harnesses with over 20 years of experience, successfully raised $8.8 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “LNKS” on December 5th, 2024, at a price of $4.00 per share. Linkers Industries specializes in providing customized wire harness solutions for various applications and electrical designs, serving a diverse range of industries.
• Tavia Acquisition Corp., a special purpose acquisition company (SPAC), successfully raised $100 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “TAVIU” on December 4th, 2024, at a price of $10.00 per share. Tavia Acquisition Corp. intends to identify, acquire, and combine with a promising business in a variety of sectors, including technology, healthcare, and financial services, with the goal of creating long-term value for its shareholders.
• Shepherd Avenue Capital Acquisition Corp., a newly formed special purpose acquisition company (SPAC), successfully raised $75 million in its initial public offering (IPO). The company’s stock began trading on the Nasdaq under the ticker symbol “SPHAU” on December 5th, 2024, at a price of $10.00 per share. The SPAC intends to identify, acquire, and combine with a promising business in a variety of sectors, with the goal of creating long-term value for its shareholders.

Markets this week

1. 1. S&P 500 gained approximately 0.83% during the week.
   2. The Russell 1000 gained approximately 0.90%.
   3. The Russell 2000 lost 28.22 points, down 1.16% for the week.
   4. CBOE declined by 6.04% during the week.
   5. Bitcoin (BTC-USD) gained $1,944.70 (2.00%) from December 2 to
      December 6.
   6. Ethereum (ETH-USD gained $295.31 (7.96%) from December 2 to
      December 6.
   7. Gold lost $15.60, which is approximately (-0.59%) from December 2
      to December 6.
   8. Silver gained $0.68, marking a 2.23% increase during the week.
   9. WTI (West Texas Intermediate) lost $0.83, a decline of 1.22%.
   10. Brent Crude Oil dropped $0.68 (-0.95%).

• Traders are bracing for increased volatility in South Korean assets as markets reopen, following a failed impeachment motion against President Yoon Suk Yeol, amid rising political uncertainty.
• Gazprom announced a new daily record for pipeline gas supplies to China via the Power of Siberia, exceeding its maximum contractual obligations.
• Saudi Arabia is cutting oil prices for Asia, with Saudi Aramco reducing the premium for Arab Light crude to 90 cents a barrel in January, down from $1.70 this month, amid weak market conditions.
• Talabat’s $2 billion IPO, the largest in the Middle East this year, marks a key milestone in Dubai’s stock market turnaround. The listing solidifies the city’s push for private offerings and could lead to more global listings, according to Emirates NBD.
• Investors have poured a record $1 trillion into US exchange-traded funds in 2024, surpassing the previous high of $903 billion in 2021. The surge, driven by strong demand for equity funds and various asset types, is set to break annual ETF records.
• Ether is gaining momentum, with investors expecting it to surpass its previous record. On Thursday, Ether ETFs in the US saw a record $428 million inflow, as the token has surged 61% since Donald Trump’s election victory, outperforming Bitcoin.
• As profit growth slows for Big Tech, investors are seeking new opportunities. The “Magnificent Seven” tech giants, including Nvidia, are projected to see a combined 18% earnings growth in 2025, down from 34% in 2024. Without Nvidia, the rest of the group is expected to post just a 3% increase in profits.
• Record leveraged loan deals mask emerging risks in the debt market. Companies raised $105 billion in loans, but default rates for leveraged loans reached a 46-month high, and bankruptcy filings surged.
• Dubai is facing a surge in crypto scams, with Ponzi schemes like HyperVerse allegedly defrauding investors of $2 billion. Sam Lee, co-founder of HyperVerse, has been charged with fraud by US authorities.