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CLOSING BELL
When Memes Come To The White House

The market fell slightly on Thursday, as the GOP tax bill passed and heads to the Senate for final deliberation. Trump has given his party until July 4th for the bill. Based on treasury yields, the bond market is not happy with yet another spending bill that increases the deficit and cuts taxes.

The top $TRUMP.X ( ▲ 0.48% ) holders are headed to an investor dinner with the president tonight in Virginia, with Tron founder Justin Sun as the self-proclaimed lead holder with $18M in his Trump meme token wallet. 👀

Today's issue covers Solar Should Have Saved Up For A Rainy Day, IPOs Are Back, Baby, and more. 📰

With the final numbers for indexes and the ETFs that track them, 2 of 11 sectors closed green, with consumer discretionary $XLY ( ▼ 0.92% ) leading and utilities $XLU ( ▼ 0.57% ) lagging.

S&P 500 $SPY ( ▼ 1.12% ) 5,842

Nasdaq 100 $QQQ ( ▼ 1.26% ) 21,112

Russell 2000 $IWM ( ▼ 1.83% ) 2,046

Dow Jones $DIA ( ▼ 1.78% ) 41,859

IPOS
IPOs Are Back, Baby 🚒 

Hinge Health $HNGE ( ▼ 0.49% ) and $MNTN ( ▼ 7.03% ) flew after both firms went public on Thursday.

Hinge Health priced its IPO at $32 per share, raising $437 million, and opened at $39.25. The firm is a San Fran-based tech platform for treating musculoskeletal conditions, like chronic pain.

MNTN, a TV adtech firm, priced at $16 per share and surged 45% on debut. Analysts view these successful listings as a positive sign for the broader IPO market, which has been recovering after a prolonged slowdown.

It’s great news for IPO backers- firms like Insight, Atomic, and Tiger Global must have celebrated when their IPO baby Hinge came into the world today.

Last week, eToro raised $620M, the first major listing since CoreWeave and liberation day.

SPONSORED
He’s Already IPO’d Once – This Time’s Different

Spencer Rascoff co-founded Zillow, scaling it into a $16 billion real estate giant.

But because everyday investors couldn’t invest until after the initial public offer (IPO), they missed out on early momentum and the cheapest share prices. “I wish we had done a round accessible to retail investors prior to Zillow’s IPO,” Spencer later said.

Now he’s doing just that. Spencer has teamed up with Austin Allison, another Zillow executive, to launch Pacaso, a co-ownership marketplace disrupting the $1.3 trillion vacation home market. And unlike Zillow, you can invest in Pacaso as a private company. (Top firms like SoftBank and Maveron already have.)

But today’s $2.80 share price will only last until May 29. After increasing gross profit by 41% last year, topping $110 million total, Pacaso has reserved the Nasdaq ticker PCSO in preparation of a potential public offering.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.