Currency & Markets Week to come Week of September 20, 2021: Focus on Toast Inc.’s IPO as more in-person meals are served in restaurants.
We’ll also look at the housing market situation with an overview of a survey of major home builders.
Toast IPO Sneak Peek
NOT. Initial public offering The market (IPO) will be active again and many new products will be priced in a few days.
I would like to highlight Toast’s IPO. Toast is an end-to-end, cloud-based technology platform that supports daily restaurant operations.
The Boston-based company plans to price an IPO on Thursday. Listed on the New York Stock Exchange under the symbol TOST.
What is that: Toast provides software as a service (SaaS) and fintech products to restaurants, including payment processing.
As of June 30, 2021, Toast served approximately 29,000 customers, including more than 48,000 restaurants. S-1 deposit. In the 12 months leading up to June 30, the company processed more than $ 38 billion in payments in total. This allowed us to generate $ 1.2 billion in revenue over the same period.
IPO: Toast will raise $ 685 million in IPO. To achieve this goal, we will be offering 21.7 million shares in the price range of $ 30- $ 33. In the middle of that range, the market value of toast is $ 17.9 billion. After Renaissance Capital..
Goldman Sachs, JP Morgan, Keybank Capital Markets, Morgan Stanley, Piper Sandler and William Blair are the main underwriters of the transaction.
slim: There are several things to do with a Toast IPO. It’s a cloud-based software and fintech company, and if the recent trend of investing in growing tech stocks continues, that’s a good sign of TOST. Discover the latest editions of Invest with Charles here For a detailed analysis of the broader fintech market.
It is also open to the public during the economic recovery in the United States. Many restaurants were forced to close last year, but the location is reopening. According to File S-1, Toast’s product suite has actually helped many customers transform their business models during a pandemic.
If Toast can expand its customer base Economy Once recovered, you may be able to set it up for the future.
Data dump: US building permit
Earlier this year, the US real estate market appeared to be heading for another bubble, as it did in the late 2000s. The combination of low interest rates and COVID-linked city exits pushed up prices. prices everywhere.
The monthly building permit survey is an important indicator of housing market conditions. United States Census Bureau, We will publish the results for August on Tuesday.
The survey focuses on the number of new building permits, housing starts and home completions each month.
After the surge of 1.8 million new permits issued by the government in February 2021, the total of monthly permits has been low throughout the summer.
However, demand is still increasing compared to a year ago. In July, more than 1.6 million new building permits were issued for private housing. This is 6% more than in July 2020, which marked the start of a recovery at home after the COVID-19 pandemic.
slim: The housing market has cooled slightly after climbing from late 2020 to early 2021. Builders face major headwinds in terms of costs and supply, which means that the number of completed homes is low.
Demand and prices for existing homes are expected to continue to increase as there is less new housing on the market. This can cause more consumers to choose to rent, which increases rents and affects overall consumer prices.
ultimately Currency & Markets Week to comeLet’s take a look at some keys here Returned This week’s report:
Lennar Corp. (NYSE: Len).
Adobe Systems Inc. (Nasdaq: ADBE).
FedEx Corp. (NYSE: FDX).
AutoZone Inc. (NYSE: AZO).
Aurora Cannabis Inc. (Nasdaq: ACB).
General Mills Inc. (NYSE: GIS).
BlackBerry Ltd. (NYSE: BB).
KB Home (NYSE: KBH).
Nike Inc. (NYSE: NKE).
Costco Wholesale Corp. (Nasdaq: Cost).
Vail Resorts Inc. (NYSE: MTN).
9F Inc. (Nasdaq: JFU).
Associate Editor, Money Market
PS Adam Odel reveals his new details Wednesday wind and rain The strategy is live on September 23. In a live event, he’ll show you how a simple two-day deal has topped the market 51 times in the past 6 months. Click here to register for a live event.
Restaurant Revival can boost this Software Co. Source link Restaurant Revival can boost this Software Co.