AnalytixInsight

The holiday shortened past week saw muted capital markets activity in public equity markets in Canada and the USA, on the heels of a turbulent few weeks. In Canada, Sophic Client, AnalytixInsight (ALY-TSXV, ATIXF-OTCQB) announced a transformative regulatory approval as an online financial broker by the Italian financial markets regulator. As a result, the platform will allow users to trade stocks, options, and derivatives in Italy and later in other European countries. Quisitive (QUIS-TSXV) announced a major acquisition in the financial services vertical. In the USA, we’re looking forward to Coinbase’s direct listing in mid-April. The Invesco Solar ETF (TAN-NYSE), had a strong finish to the week following Biden infrastructure plan, as did Sophic client, UGE International (UGE-TSXV, UGEIF-OTC).

After a few weeks of volatility in Canadian capital markets, last week saw a bit of an uptick in activity. That said, we’re hearing investors are pushing back on some richly valued new issues. We’re excited to see MDA (a Canadian company we’ve known as 15 years as sell side equity analysts) could be a public company once again. In the USA, Robinhood has filed confidentially for a US IPO. Both Robinhood & SoFi have indicated they will let retail investors buy into IPOs. We’re also watching Coursera’s IPO, as many influential investors COVID could forever change education. WeWork could go public via a SPAC. In the US too, recent IPO debuts by Vizio and DigitalOcean suggest investors could be more price sensitive with regards to new issues than in the past few months.

Given market volatility in the technology and growth sectors over the past few weeks, this last week saw a muted level of new growth sector equity financings in Canada once again. That said, new offering pipelines appear healthy, and our contacts at various investment banks suggest there could be up to ten newly minted tech companies in Canada relatively soon. Sophic client, AnalytixInsight (ALY-TSX), could be an interesting stock to watch over the next few weeks, as the company could benefit from increased retail investor trading globally – the company, last week, also announced a new ESG focused offering. In this regard, we are also watching eToro’s SPAC in the USA, as well as public debuts by Deliveroo, Coinbase, Stripe.