YodaStockInvests
Oct 9, 7:09 PM
A sponsor and a lockup create selling pressure right after the listing. The stock trades off supply, not off what the company is doing. The real growth gets hidden until the selling clears.
$FPS was one of those.
$INIO looks like the same kind of setup.
IPO'd at
$27 and trades at
$19.60. The IPO was 100% secondary, so the company got nothing. The sponsors still own 86% and only about 14% trades.
Meanwhile the business is doing the opposite. Backlog went from
$1.0 billion to
$6.6 billion in 18 months. Customers have prepaid
$1.4 billion. 2026 and 2027 are sold out. It books about the same revenue as
$BE this year at a sixth of the market cap.
The lockup expires November 30 and a block could come. But a seller with 646 million shares has to keep coming back to the same buyers, and that kind of seller sells after good news, not into a hole.
