Weekly Market Recap | Nov 25 – Dec 1

IPO’s in the week

• Wing Yip Food Holdings Group Ltd, a prominent meat producer, recently went public with its initial public offering (IPO). The company specializes in offering a range of ready-to-eat and packaged meat dishes. Its IPO details include a ticker symbol of WYHG, an IPO price of $4.00, 2,050,000 shares, and a listing date of November 26, 2024.
• FACT II Acquisition Corp., a blank check company, has commenced trading on the Nasdaq exchange under the ticker symbol FACTU. The company aims to acquire one or more businesses and assets through various means. Key details of its listing include an initial public offering price of $10.00, 17,500,000 shares, and a listing date of November 26, 2024.
• Creative Global Technology Holdings Limited, a company focused on sustainable electronics recycling, has listed on the Nasdaq exchange under the ticker symbol CGTL. The company aims to reduce electronic waste by connecting supply and demand for pre-owned devices. Key listing details include an initial public offering price of $4.00, 1,250,000 shares, and a listing date of November 26, 2024.
• Venu Holding Corporation, an entertainment and hospitality company, has listed on the NYSE American exchange under the ticker symbol VENU. The company owns and operates upscale music venues, restaurants, and bars in the US. Key listing details include an initial public offering price of $10.00, 1,000,000 shares, and a listing date of November 27, 2024.
• Pony AI Inc., a leading autonomous vehicle technology company, has listed on the Nasdaq exchange under the ticker symbol PONY. The company provides autonomous driving solutions for safe, sustainable, and accessible mobility worldwide. Key listing details include an initial public offering price of $13.00, 20,000,000 shares, and a listing date of November 27, 2024.
• BrilliA Inc., a global manufacturer of women’s intimate apparel, has listed on the NYSE American exchange under the ticker symbol BRIA. The company offers design and supply chain services for various apparel categories. Key listing details include an initial public offering price of $4.00, 2,500,000 shares, and a listing date of November 27, 2024.
• Brazil Potash, an exploration and development company, has listed on the NYSE American exchange under the ticker symbol GRO. The company is focused on developing the Autazes Project, a potash mining project in Brazil. Key listing details include an initial public offering price of $15.00, 2,400,000 shares, and a listing date of November 27, 2024.

Markets this week

1. 1. The S&P 500 gained 40.10 points (0.67%) over the 5 days.
   2. The Russell 1000 Index gained 26.00 points (0.79%).
   3. The Russell 2000 Index gained 15.65 points (0.65%).
   4. Cboe Global Markets Inc. (CBOE) gained 3.62 points (1.71%).
   5. Bitcoin (BTC-USD) dropped $603.29 (-0.61%) from Nov 25 to Nov 29, 2024.
   6. Ethereum (ETH-USD) gained $228.89 (6.80%).
   7. Gold dropped $32.40 (-1.21%).
   8. Silver gained $0.293 (0.95%).
   9. West Texas Intermediate (WTI) Crude Oil dropped $3.44 (-4.81%).
   10. Brent Crude Oil dropped $3.37 (-4.48%).

• U.S. stocks hit new highs despite risks, sparking fears of a market bubble amid extreme investor bullishness.
• Asian nations are adopting Japan’s reform model, dubbed “Value Up,” to enhance shareholder returns and governance. As Trump’s trade policies loom, this approach offers a timely defense against potential economic and earnings risks.
• Bitcoin ETFs now hold over 1 million BTC, and with potential government and corporate purchases, institutional control is growing, shifting power away from Bitcoin’s decentralized roots.
• Bitcoin hits new records, but many altcoins remain below previous highs. Retail interest is growing, but many investors are still on the sidelines, and the speculative fervor of past crypto booms has yet to return.
• As Trump’s return nears, investors are uncertain whether his tariff policies will favor stocks or bonds in emerging markets. Goldman Sachs forecasts a 12% return for equities, while bond spreads remain narrow.
• Howard Lutnick, CEO of Cantor Fitzgerald, pitched AEye, a self-driving car startup, claiming a $2 billion valuation despite its lack of revenue. Lutnick was behind a SPAC merger to take the company public, part of the pandemic-era boom in unprofitable startups.
• DirecTV and Dish Network canceled their merger after creditors opposed a debt reduction proposal. The deal, valued at $1 plus $9.8 billion in debt, fell apart as both companies face customer losses to streaming services. EchoStar’s stock rose 6.6%.
• General Motors saw its shares drop 9% following President-elect Donald Trump’s tariff threat on imports from Mexico and Canada. The proposed tariffs could impact GM’s vehicles made in the U.S. with imported parts and those assembled across the border.
• The Dow and S&P 500 saw their biggest monthly gains of 2024, with the Russell 2000 rising around 11%. This week, the indexes continued their upward momentum, maintaining strong performance.