We’re only halfway through February and so far, we’ve already seen 202 IPOs hit the market.
That’s almost half of the total IPOs for the entirety of 2020.
To put that in more perspective, there were only 32 IPOs in the first 2 months of 2020 and 28 in the first two months of 2019.
We’ve already seen Bumble and Doordash it the market, and there are many other highly anticipated ones coming down the pipeline such as Instacart.
It’s clear that many of these companies are taking advantage of investor excitement of the recent market highs. It’s hard to know exactly which companies will actually go public and when, since CEOs everywhere will mention that is the plan.
That includes CEO of Globalfoundries Inc, Tom Caulfield who commented they would like to go public within the next year.
Globalfoundries has been a company on my radar because of the increasing demand and stifled supply in the semiconductor market. The company has manufacturing capabilities at three US facilities, plus one in Singapore and one in Germany.
Yesterday the company announced a strategic partnership with the US Department of Defense to products semiconductor solutions for the nation’s most sensitive defense and aerospace applications.
This is possible now that company’s Fab 8 location in Malta, New York is now compliant with US International Traffic in Arms Regulations.
As I’ve mentioned before, the world is seeing a jump in semiconductor demand. Because of that shortages are prevalent in many industries including automotive. Many of Globalfoundries’ competitors are rushing to free up capacity to take on more orders.
But it will be hard for any of those companies to try and move in on this niche at this time.
Globalfoundries has had a longstanding partnership with the DoD and this new announcement just solidifies that both parties plan to build on that for years to come.
“This is not a bubble.” says Tom Caulfield, “The industry is going to double in the next eight to nine years and it’s going to require an investment in manufacturing to drive that.”
Globalfoundries is working to expand production in the US, Europe and Singapore and announced that it will unveil plans for a new chip plant later this year but didn’t say where is would be located. And I’ll definitely be keeping an eye out for more details.
This is a company that I think will continue to see massive expansion for years to come. Right now, the majority of the company is owned by an investment arm of Abu Dhabi’s government. But as I’ve mentioned above, an IPO is in future plans.
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Generally, I’m not chomping at the bit to get right in on an IPO. We tend to see the initial excitement and then a drop off.
Globalfoundries on the other hand appears to be in an ideal situation to grow profits exponentially over the next decade. This could be one IPO that its worth standing in line to make sure you get a piece on day one.
To your prosperity and health,
Joshua M. Belanger