Visional Inc IPO Trading Update - Good Demand, Small Upside Based on SOTP
Visional Inc (4194 JP) raised US$609m at JPY5,000 per share, the top-end of its IPO price range. Visional Inc. is a human resources (HR) technology...
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Mercari – Expecting an Acceleration in US GMV Growth
We expect Mercari to demonstrate strong US GMV growth and potentially far higher OP generation than the market expects when it reports 3Q earnings.
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Softbank – Is Archegos the Bear Stearns CDO Funds in the Coalmine?
With a lot of signs of market stress emerging following a truly bubbly run up in 2020 we examine the prospects for a stock that has traditionally...
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Mercari’s Relentless Innovation Opens Closets
Mercari now dominates CtoC trading in Japan and is so big a Tax Office department is names after it. Competitors are circling, particularly Z...
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Coupang - Valuation Analysis
Our base case valuation of Coupang is EV of $55.6 billion and implied market cap of $60.1 billion. We have used EV/GP as our primary method of...
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