For a startup company, there aren’t many things more exciting than growing to the point where it can Initial public offering (IPO)
But with its shares up more than 600% on its first day of trading and having the biggest IPO of 2023, that excitement can only be matched. Golf club maker Sacks-Parente Golf Inc. That’s what blew the roof off Wall Street with the August IPO.
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Sachs-Parente Golf manufactures high-end golf adapters with proprietary technology, which the company says helps golfers hit more putts. Sacks-Parente designed the putters with special weights and other features that allow golfers to hold their swings longer on the line, which translates into lower scores. The price of Sacks-Parente putters is around $400, which is on par with products from well-known manufacturers such as Scotty Cameron and Odyssey.
Sacks-Parente shares opened the day’s trading by offering 3.2 million shares at $4 per share. By the end of the day’s trading, the stock price had run to $29. That’s a 624% jump in share price, which came on a whirlwind day in which Sachs-Parent’s trading was suspended 19 separate times due to excessive volatility.
Even against that background, the IPO made a lot of money for the early buyers, but the real winners were the original investors. He invested in the pre-IPO stage When stocks can be had for pennies on the dollar. The success of the Sacks-Parente Golf IPO is a perfect example of why many venture capitalists and VC funds are so active in the startup sector. The risk is high, but the reward is amazing when your proverbial ship arrives.
It’s rare for a blue-chip stock to make 600% gains in one day, and even if the stock price was too high for most everyday investors to begin with. Conversely, investors can actively participate in the startup market through peer-to-peer crowdfunding platforms and build a portfolio of highly leveraged investment offerings for coins. Thanks to Skip our business and start-up (JOBS) legislationOpportunities like Sacks-Parente are now available to non-accredited investors.
Investing in startups involves significant risk. But the low purchase price on many offerings and the abundance of equity crowdfunding platforms mean that everyday investors have access to offerings that would never have been available to them 15 years ago.
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This column Golf startup will raise 600% and become the biggest IPO of the year. It appeared at first Benzinga.com
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