🔔 IPO doesnt deliver(oo)

Loads going on in markets - month/quarter end, Japanese fiscal year end overnight, and all right on top of Easter too...

Tech is looking healthier today, Nasdaq futures +0.6% so far...

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Correction from yesterday's Opening Belle: VOLTSWagen namechange was actually an April fools joke and definitely not a clever marketing strategy

The CNBC editor was NOT impressed

 Apparently no one in the approval process at @VW said, hey maybe we shouldn't lie to the press given the whole, you know, emissions lying thing...

Volkswagen's name change of U.S. operations to 'Voltswagen' was April Fool's marketing prank, source says https://t.co/k4hdPK4Hhg— Dawn Kopecki (@Dawn_Kopecki) March 30, 2021 

 There's no such thing as bad publicity....

CHART CRIMES: Year on Year comparisons are meaningless, but that won't stop them - it's useless to compare a closed economy with an open(ing) one...

The two year trends are the ones to watch, ticking up but still some way to go...

So far it's mainly limited to card and spending data, don't expect that to last though, chart crimes are going to be everywhere!

🔥 Hot and 🚫 Not

🔥  Apple 🍏🚀

Too many emojis? a) impossible, can never have too manyb) I'm about to show you something that was stamped by the 'UBS Evidence Lab' so all bets are off...

Short version; UBS are bullish Apple - they believe that the 'core' business is worth $128 and there's a non-neglible possibility that Apple's 'Auto optionality' drives the price higher...

AAPL is trading 121.80 in pre-market, up 1.6% on yesterday's close...  

🚫 Deliveroo 🦘📉

Had to be done

  • 👋 Opened at 390p

  • 📉 Fell by 30%+ in the first 20 minutes

  • 📈 Recovered to 289p

A quote from the FT

One equity capital markets banker, who was not involved in the deal, said he was left stunned by what he called an “absolute car crash”.

“It’s completely embarrassing. I can’t remember a time this has happened before,” he said. The IPO was “disastrous” for London’s hopes to become a focus for tech listings, he added.

Our market veteran mentioned the U.K. joining the IPO craze right at the end of the tech mania in 2000 - hopefully not a case of history repeating...

If you're one of the 50,000 retail investors who invested your hard earned £1,000 in the Deliveroo IPO, please direct all complaints to David 👇

 I'll be shorting the Deliveroo IPO out of revenge for making me fatter over lockdown.— David Belle (@davidbelle_) March 28, 2021 

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