Golf Startup Surges 600% And Becomes The Year’s Biggest IPO

For a startup firm, there aren’t too many issues extra thrilling than progressing to the purpose the place it will probably make an preliminary public providing (IPO).

However seeing the shares surge over 600% within the first day of buying and selling and having the largest IPO of 2023 would possibly match that pleasure. That is what occurred to golf membership maker Sacks-Parente Golf Inc., which blew the roof off of Wall Road with its August IPO.

Do not Miss:

Sacks-Parente Golf manufactures high-end golf-putters with proprietary know-how that the corporate says helps golfers gap extra putts. Sacks-Parente designed its putters with particular weighting and different options it claims permits golfers to maintain their putts on line longer, which interprets to decrease scores. The worth level for the Sacks-Parente putters is round $400, which is on par with merchandise from well-known producers like Scotty Cameron and Odyssey.

Sacks-Parente shares opened the day’s buying and selling by providing 3.2 million shares at $4 per share. By the top of the day’s buying and selling, the share worth had rocketed to $29. That is a 624% leap in share worth that got here on a rollicking day the place Sacks-Parente buying and selling was suspended 19 completely different instances due to extreme volatility.

Even towards that backdrop, the IPO made some huge cash for early consumers, however the actual winners had been the unique buyers who invested on the pre-IPO stage when shares might have been out there for pennies on the greenback. The success of the Sacks-Parente Golf IPO is an ideal instance of why so many enterprise capitalists and VC funds are so energetic within the startup sector. The chance is excessive, however the rewards are completely unbelievable when your proverbial ship is available in.

It is uncommon {that a} blue-chip inventory makes a 600% achieve in sooner or later, and even when it did, the share worth was seemingly too excessive for many on a regular basis buyers to afford to start with. In contrast, buyers can get energetic within the startup market by way of fairness crowdfunding platforms and construct a complete portfolio of high-upside funding choices for pennies. Due to the Jumpstart Our Companies and Startups (JOBS) Act, alternatives like Sacks-Parente are actually out there to nonaccredited buyers.

There’s appreciable threat with startup investing. However the low buy-in worth on many choices and the plethora of fairness crowdfunding platforms means on a regular basis buyers have entry to choices that might by no means have been out there to them 15 years in the past.

See extra on startup investing from Benzinga:

Do not miss real-time alerts in your shares – be part of Benzinga Professional free of charge! Strive the device that may assist you make investments smarter, quicker, and higher.

This text Golf Startup Surges 600% And Turns into The 12 months’s Largest IPO initially appeared on


© 2023 Benzinga doesn’t present funding recommendation. All rights reserved.

Check Also

Why AMD Stock Jumped Again Today

Superior Micro Gadgets (NASDAQ: AMD) recorded one other day of robust positive factors in Friday’s …

Leave a Reply

Your email address will not be published. Required fields are marked *