Weekly Market Recap | Jan 13 – Jan 19

IPO’s in the week

• Uni-Fuels Holdings (Nasdaq: UFG), debuted on January 14, 2025, with an IPO of 2.1M shares at $4.00 each. Founded in 2021, Uni-Fuels delivers innovative marine fuel solutions, driving global growth and sustainability.

• Ribbon Acquisition (Nasdaq: RIBBU), a blank check company incorporated in the Cayman Islands, launched its IPO on January 15, 2025, offering 5,000,000 shares at $10.00 each. Established to pursue business combinations such as mergers, share exchanges, or asset acquisitions, Ribbon Acquisition aims to unlock opportunities across diverse sectors.
• Plum Acquisition Corp. IV (Nasdaq: PLMI), a blank check company, debuted its IPO on January 15, 2025, offering 15,000,000 shares at $10.00 each. Formed to pursue mergers, acquisitions, or similar business combinations, Plum Acquisition IV is positioned to identify and partner with high-growth businesses.
• Hong Kong Pharma Digital Technology Holdings Limited (Nasdaq: HKPDT) launched its IPO on January 15, 2025, offering 1,403,685 shares at $4.00 each. The company provides OTC pharmaceutical cross-border e-commerce supply chain services through Joint Cross Border Logistics Company Limited and procurement and distribution services via V-Alliance Technology Supplies Limited, both based in Hong Kong.
• PicoCELA (Nasdaq: PCLA), a Tokyo-based provider of enterprise wireless mesh solutions, launched its IPO on January 16, 2025, offering 2,000,000 shares at $4.00 each. The company specializes in the manufacturing, installation, and services of advanced mesh Wi-Fi access point devices.
• Flowco Holdings Inc (NYSE: FLOC), a leading provider of production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry, debuted its IPO on January 16, 2025. Offering 17,800,000 shares at $24.00 each, Flowco delivers a full range of equipment and technology solutions to enhance industry efficiency and sustainability.
• Hennessy Capital Investment Corp. VII completed its $175 million IPO on January 17, 2025, trading on Nasdaq under the ticker symbol VIIU. This blank check company aims to acquire one or more businesses and assets through mergers, stock exchanges, asset acquisitions, stock purchases, or reorganizations at an IPO price of $10.00 per unit.

Markets this week

1. The S&P 500 Index gained 214.64 points, or 3.71%, during the week.
2. The Russell 1000 advanced by 12.50 points, a weekly gain of 3.94%.
3. Russell 2000 index rose 99.39 points, or approximately 4.57%.
4. The CBOE losing 5.21 points, or approximately 24.6%.
5. Bitcoin USD rose $9,973.15, or approximately 10.6% during 5 days trading.
6. Ethereum USD increased $208.01, or approximately 6.4% during 5 day trading.
7. Gold rose $28.90, or approximately 1.1%.
8. Silver gaining $0.77, or about 2.5%.
9. WTI (West Texas Intermediate) rose $1.50, or about 2%.
10. Brent Crude Oil increased $1.23, or about 1.5%.

• Short seller Nate Anderson announced the closure of Hindenburg Research, the firm known for targeting billionaires like Gautam Adani, Jack Dorsey, and Carl Icahn.
• Activist investor Rising Sun Management urged Japan’s Fuji Media to investigate a scandal involving former J-pop star Masahiro Nakai, warning that a coverup could harm shareholder value.
• BP will cut 4,700 internal jobs and over 3,000 contractor positions as part of a cost-reduction effort.
• Byju’s collapse is hitting U.S. debtholders hard. The Indian edtech giant raised $1.2 billion in 2021 but now faces legal battles.
• Canada’s counter-tariff plan targets US aluminum and steel, with potential tariffs on US products worth C$37 billion to C$150 billion if Trump moves forward with trade measures.
• Rio Tinto and Glencore are in talks for a potential merger, which could create the industry’s largest mining company, surpassing BHP Group.
• China is expanding its food supply network globally, shifting from Western suppliers to nations like Kenya, Bolivia, Brazil, and Russia to safeguard against trade wars and Trump’s return.
• Swiss state-owned PostFinance AG has launched Ethereum staking, enabling investors to earn passive income. It plans to expand staking to more tokens.
• Crypto hedge funds gained 40% in 2024, but Bitcoin’s 120% surge to over $100,000 outperformed them. Many funds missed out, as investors favored low-cost Bitcoin ETFs.
• In early 2025, markets are volatile, with bond-driven swings and uncertainty around policy. Defensive ETFs in real estate, commodities, and trend strategies are up 6%+ and attracting billions in inflows.
• Amazon halts drone deliveries in Texas and Arizona after rain-related crashes, citing software issues.
• Intel shares rose 9.5% on rumors of a potential acquisition amid recent struggles and leadership changes.
• The crypto industry hopes Trump’s second term will bring an executive order for clearer digital asset regulations from the CFTC and SEC.
• Kantar Group is selling its television audience ratings unit to H.I.G. Capital for $1 billion.
• Inflation eased in the US last month, supporting bond prices after selloffs and strengthening expectations for interest-rate cuts.
• Rising US Treasury yields and commercial real estate distress are putting pressure on regional banks, with smaller bank shares down 8.2% since November.
• Traders increased bullish US dollar bets to $34.6 billion ahead of Trump’s return, a $1 billion rise since last week, with the dollar up nearly 5% since election day.
• Record capital outflows are adding pressure to the yuan, which has fallen nearly 3% in three months, amid a stronger dollar and potential US tariffs. Stricter controls may follow.
• Australia’s largest iron ore port, Port Hedland, has been closed due to a tropical cyclone forming off the Pilbara region.
• Traders boosted bullish bets on China-linked ETFs after the Trump-Xi call, with increased demand for call options on FXI and KWEB.
• LVMH regained Europe’s top stock spot from Novo Nordisk after a 4.3% drop in Novo’s shares due to US legislation targeting its drugs.
• The risk of Trump imposing universal import tariffs is stirring turmoil in the global gold market, with key bullion demand indicators hitting historic highs in London.
• BlackRock’s iShares TWOX ETF targets extra gains in flat S&P 500 periods, joining a $60 billion outcome-oriented ETF boom.
• JPMorgan Chase posted a record $58.5 billion in net income for 2024, up 18% from its previous record of $49.6 billion in 2023.
• FTSE Russell will shift its US index reconstitution to semi-annual starting in 2026, citing increased volatility and $220 billion in trading during the annual June rebalancing.
• Norway’s central bank is seeking applications for the CEO position of its $1.8 trillion sovereign wealth fund.
• Ken Griffin’s Citadel Securities has applied to establish a brokerage in mainland China, positioning itself for expansion.