Bullish IPO: Dem Raise $1.11B, Shares Jump 218%
Bullish IPO raise $1.11B for $37 per share for dia NYSE debut, e get 20× oversubscription and strong institutional demand. Shares jump 218% inside day to $118, e cause trading stop due to volatility, before e settle near $71 and push peak market cap pass $16B. Peter Thiel lead am, underwriters JPMorgan, Jefferies, and Citigroup dem sell 30M shares plus 4.5M over-allotment. Big backers BlackRock and ARK Invest commit $200M.
Bullish IPO funds go convert to stablecoins under Genius Act. Owner of CoinDesk, Bullish dey offer spot, margin, and derivatives trading. After Q1 loss, dem forecast $106M–$109M profit for Q2. Trading volume jump from $72.7B for 2022 to $250B for 2024. With $2B crypto assets (mostly BTC) and e face Binance and Coinbase, this listing mean say institutional confidence don come back, fit encourage more public blockchain listings.
Bullish
Di Bullish IPO oversubscription plus 218% intraday surge mean say strong demand from big companies and market confidence, e show say di market get better mind. For short term, plenty trading volumes and support from big players like BlackRock and ARK Invest fit push di price go higher. Long term, Q2 profit forecast, stablecoin conversion under U.S. rules, and more trading services (spot, margin, derivatives) dey boost Bullish growth chance. But volatility and competition from Binance and Coinbase still dey. Overall, di Bullish IPO be better sign wey fit keep the stock dey go up.