Cayman Ltd dropping. DDLWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
DDL
Valued at USD 5.5 Bn in US IPO Debut, On June 29, online groceries e-commerce company Dingdong Maicai (DDL:NYSE) went public in New York after raising USD 96 million in an initial public offering, a dramatic cutback from the original projection of USD 357 million.
Dingdong Maicai had initially planned to raise up to USD 357 million by selling 14 million ADSs, priced between USD 23.5 and USD 25.5. But its updated SEC filings disclosed that the company shrank the IPO target to 3.7 million ADSs priced at USD 23.5 each, which was in the lower end of the indicative price range. The market value of Dingdong Maicai reached USD 5.54 billion based on the issue price.
The shares of Dingdong Maicai opened at USD 28 and quickly jumped to as high as USD 29.99, 25.5% ahead of its IPO price. However, the stock later backed down to close at USD 23.52.
In 2019 and 2020, Dingdong Maicai achieved CNY 3.88 billion and CNY 11.336 billion revenue, respectively; for 2021 Q1, the revenue increased by 46.0% to CNY 3.802 billion from CNY 2.604 billion in the same period last year. From 2018 to 2020, the GMV of Dingdong Maicai jumped from CNY 742 million to CNY 13.03 billion with a CAGR of 319.2%.