Weekly Market Recap | June 09 – June 15

IPO’s in the week

• AIRO Group Holdings (AIRO, Nasdaq) – A defense and aerospace tech platform focused on drones, avionics, pilot training, and eVTOLs went public on June 13, offering 6 million shares at $10.00, raising $60 million. Backed by contracts with NATO and U.S. agencies, the company surged 140% on debut. 
• BEST SPAC I Acquisition (BSAAU, Nasdaq) – A Hong Kong-based blank check company targeting the consumer goods sector went public on June 13, offering 5.5 million shares at $10.00, raising $50.5 million. Shares edged up 0.20% post-IPO.
• Blue Acquisition (BACCU, Nasdaq) – A Cayman-incorporated SPAC focused on green energy, industrial tech, and AI went public on June 13, raising $175 million from 17.5 million shares at $10.00. Shares saw a modest 0.30% gain.
• JBS N.V. (JBS, NYSE) – Brazilian meat giant JBS went public on June 13, offering shares at $13.65, valuing the firm at $30 billion. Despite controversy and political opposition, shares rose 1.6% to close at $13.87. JBS posted $77.2B in revenue and $2B net income in 2024.
• Chime Financial (CHYM, Nasdaq) – Digital banking leader Chime raised $864 million on June 12, offering 32 million shares at $27.00. Despite strong member loyalty and $8.6M+ active users, shares fell 6.25% on debut. Chime positions itself as a low-fee alternative to traditional banks.
• Vantage (VNTG, NYSE American) – Singapore-based shipbroking firm Vantage raised $13 million on June 12, offering 3.25 million shares at $4.00. Specializing in tanker logistics and chartering, the company’s stock rose 13.16% post-IPO.
• Ategrity Specialty Insurance (ASIC, NYSE) – A tech-driven E&S insurance provider for SMBs raised $113.3 million on June 11, offering 6.67 million shares at $17.00. Despite solid growth and profitability, shares fell 1.42% on first-day trading.
• Voyager Technologies (VOYG, NYSE) – A space and defense tech firm focused on AI-powered intelligence systems and NASA’s Starlab project went public on June 11, raising $341 million from 11 million shares at $31.00. Shares rose 9.84% on debut, backed by strong government and commercial contracts.
• Blue Water Acquisition III (BLUWU, Nasdaq) – A SPAC targeting biotech, healthcare, and tech sectors raised $220 million on June 10, offering 22 million shares at $10.00. Backed by a seasoned team and sector focus, the stock ended flat at -0.10% post-listing.
• 707 Cayman Holdings (JEM, Nasdaq) – A Hong Kong-based apparel supplier and e-commerce operator raised $10 million on June 9, offering 2.5 million shares at $4.00. Shares fell 6.48% after debut, despite plans for brand expansion and live-stream retail across Asia.

Markets this week

1. S&P 500 closed at 5,976.97, up 66.65 points and 1.13% for the week.
2. Russell 1000 (IWB) closed at 327.83, down 1.64 points and 0.50% for the week.
3. Russell 2000 closed at 2,100.51, down 14.21 points and 0.67% for the week.
4. Russell 3000 closed at 3,396.03, down 19.35 points and -0.57% for the week.
5. CBOE closed at 20.82, up 4.05 points and +24.14% for the week.
6. Dow Jones closed at 42,197.79, down 565.08 points and -1.32% for the week.
7. Nasdaq closed at 19,406.83, down 123.14 points and -0.63% for the week.
8. Bitcoin USD closed at $105,552.02, down $241.00 and -0.23% for the week.
9. Ethereum USD closed at $2,546.84, up $36.00 and +1.43% for the week.
10. Solana USD closed at $152.81, up $0.38 and +0.25% for the week.
11. XRP USD closed at $2.1672, down $0.0983 and -4.34% for the week.
12. Gold closed at $3,431.20, up $115.60 and +3.49% for the week.
13. Silver closed at $36.281, down $0.407 and -1.11% for the week.
14. WTI crude oil closed at $72.98, up $8.18 and +12.62% for the week.
15. Brent crude oil closed at $74.23, up $7.63 and +11.46% for the week.

• Oil surged 7% on Friday, its biggest jump in 3 years, with WTI touching $73.64 before settling slightly lower.
• Gold jumped 4.3% to $2,463/oz, as investors flocked to safe-haven assets amid geopolitical risks.
• MSCI World Index fell 2.8% for the week, its worst performance since April, as global risk appetite weakened.
• China’s biotech stocks surged over 60% YTD, outperforming AI, as billion-dollar licensing deals and blockbuster IPOs reignited investor enthusiasm.
• 3SBio soared 283% after Pfizer agreed to pay $1.25B for a cancer drug license and invest an additional $100M in equity.
• New World sold 138 Hong Kong apartments within hours at steep discounts, raising urgent cash as it faces a HK$87.5B (US$11.2B) debt deadline by month-end.
• Wall Street stayed resilient despite Israel’s strike on Iran, with the S&P 500 ending the week just 0.4% lower, less than 3% off its all-time high.
• China may let the yuan weaken 3–4% against major currencies (except USD) to boost exports, as the CFETS index hits its lowest since 2020.
• Japan’s bond market volatility has surged to a 20-year high, triggering global spillovers as U.S. Treasuries and sovereign debt react to rising yields and fiscal risk concerns.
• JBS, the world’s largest meatpacker, debuted on the NYSE via direct listing, shifting its identity toward a U.S.-focused conglomerate after delisting from Brazil’s exchange.
• U.S. bond yields fell for a fourth straight day as soft inflation and jobless data fueled optimism that the Fed may cut rates later this year.