The Prospuh app is allowing Bahamians to take advantage of newly released initial public offerings (IPO) on the US markets, the app’s founder N’Nhyn O’Cof said yesterday, revealing that three exciting companies went public recently.
He said Instacart, Arm Holdings and Klaviyo were all available for Bahamians to invest in through the app, when they went public recently.
According to the
Associated Press (AP), Arm Holdings had the biggest IPO since 2021, ending the raise with a market value of $68 billion.
“Most consumers use at least one product that contains Arm’s chips, though many people may not be familiar with the company itself,” the AP said in an article.
“Its chip design is used in virtually all smartphones, the majority of tablets and digital TVs. More recently, Arm has expanded into artificial intelligence, smart devices, cloud computing, the Metaverse and autonomous driving.”
The marketing automation firm Klaviyo got a valuation of $9.2 billion following its raise.
And Instacart, the grocery delivery app that might be the most familiar name of the three to new investors, saw its share price recently fall below IPO price.
O’Cof said Bahamians can research these companies for themselves and decide which, if any, might be a good investment for them.
He added that Bahamians can also take a closer look at companies like the ones recently listed on the stock market, and seek to understand how they can bring similar kinds of innovation to The Bahamas.
“There’s something that we can look at from that aspect, and get involved early,” said O’Cof.
“I always go back to a guy who started off Uber. He invested five grand when Uber was just an idea and he kept his shares. By the time Uber had IPO’d, that $5,000 investment turned into $25 million.”
O’Cof’s app allows the user to invest as little as $20 on US stock exchanges.
