The Arm Holdings Plc initial public offering is generating a lot of excitement among IPO and tech fans, and for good reason—it’s the first significant tech IPO in more than two years.
A lot depends on how well it does. Investors’ “success” in this instance included strong demand and an increase in price in the days and weeks after the IPO.
However, at first, Exchange Traded Funds will be the only logical buyer for the deal.
On Thursday, Arm will begin trading on the Nasdaq, selling 95.5 million shares at $51, which is the upper end of the anticipated price range of $47 to $51.
The usage of ETFs by tech investors to get exposure to major tech sectors and subsectors like semiconductors is on the rise.
However, some investors may be let down if they were hoping to gain instant exposure to the Arm IPO through ETFs.
ETF index inclusion guidelines
Due to the ownership base’s lean towards passive and long-term ownership, ETFs are typically a favourable target for firms looking to sell shares to.
This particular IPO, however, brings to light a number of challenges that even huge corporations like Arm face when trying to expand their shareholder base through ETFs.
ETFs are typically supported by indexes. To be eligible for inclusion, one must strictly abide by the standards of these indexes.
Unfortunately, ARM initially looks to be ineligible for the main ETFs, both as a result of Arm’s own choices and partially owing to the way the key indexes are built.
First issue: Arm isn’t included in the S&P 500
S&P Global is the largest index provider. Arm is not a stock in the S&P 500, which is a prerequisite for inclusion in broad technology ETFs like the SPDR Technology ETF (XLK), which tracks the S&P 500 Technology index.
The first issue is that Arm is a British firm rather than a U.S. one, which would typically keep it out of the S&P indexes.
Given that it has its domicile in the UK, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, told me that it is doubtful that it will be included in the S&P 500. “That would rule it out of inclusion right away.”
A wide range of ETF products offered by State Street are connected to S&P indexes, including the SPDR S&P 500 ETF, the biggest ETF globally.
The most recent quarter’s GAAP should be positive along with the most recent four consecutive quarters’ GAAP, according to Howard Silverblatt of S&P Global. S&P also needs a stock to have traded for a year.
A free float below 10% is the following issue.
Because limiting supply enhances the likelihood of higher prices, many IT companies now routinely floated extremely tiny amounts of stock (10%–15% of the shares outstanding).
But according to Renaissance Capital, Arm looks to be exceptionally frugal, only floating around 9.3% of the business.
This presents another issue for many ETFs as they typically need a firm to float 10% of its shares or more in order to qualify for inclusion.
According to Bartolini, this is true for both the largest semiconductor ETF, the S&P 500, and the S&P indexes.
Van Eck Semiconductor ETF (SMH), which also needs a 10% or more free float.
Eck, Van On Monday, CEO Jan Van Eck told CNBC that his company was still determining whether or not Arm would be qualified for inclusion in his ETF.
There are float restrictions for other index providers that ETFs utilise. Using the CRSP U.S. Total Market Index, Todd Sohn, who covers ETFs at Strategas, informs me that Vanguard Total U.S. Market (VTI), likewise needs a 10% float for fast-track IPOs.
It is possible to increase the float above 10%. The greenshoe, an optional over-allotment of stock that might add an extra 15% of shares, would put SoftBank slightly above a 10% float, so they could first exercise it.
What timeframe would that be?InThough it may be, in general, it is not publicised in conjunction with the pricing, according to Renaissance Capital’s Matt Kennedy. It may also be revealed a few days later when they make the closing announcement. Or, at the latest, a few weeks later in a 10-Q or 8-K filing.
Another option is to just sell more shares once the six-month lockup period has passed.
Nasdaq-100 ETF and IPO ETFs are two potential ETF purchasers.
There are some prospective purchasers of ETFs.
For instance, as there are no float or market capitalization criteria for the Nasdaq-100, which represents the top 100 non-financial companies listed on the Nasdaq, Arm may be able to participate. Every December, the Nasdaq-100 is recreated.
One of the biggest ETFs in the United States is the Invesco Nasdaq-100 ETF (QQQ), which utilises the Nasdaq-100 index as its benchmark.
Potential Arm holders include other ETFs that focus in purchasing initial public offerings, but their purchasing ability is limited.
Arm could be qualified for inclusion in the Renaissance Capital IPO ETF (IPO), a collection of recent IPOs, as it just requires a 5% free float.
Nate Geraci of the ETF Store, however, issued a warning about attempting to play IPOs in this way.
He said to me, “I’m just not a fan of investors trying to play IPOs in the first place.
“One advantage of investing in ETFs is that you don’t have to be concerned about company-specific occurrences like these. Investors should understand the inner workings of any ETF they purchase, but I would advise against purchasing an ETF just because it includes a holding in the newest, hottest IPO.
After receiving Federal Aviation Administration (FAA) certification, a California-based startup creating a flying electric automobile is currently accepting preorders.
According to a news release from the firm, Alef Aeronautics’ flying automobile has received a Special Airworthiness Certification, allowing the business to test it on the road and in the air.
According to Alef’s website, the totally electric car can launch vertically into the air with a flying range of 110 miles and is a low-speed vehicle with a driving range of up to 200 miles on public roads and fits into a standard garage.
The company’s “Model A” vehicle “can fly forward above the obstacles until a desired destination is reached,” according to the San Mateo-based business.
A distinctive gimbaled rotating cabin design stabilises the driver and the cabin.
Electric aircraft steer clear of traffic
Alef boasts that the vehicle can fly in any direction and avoid traffic while providing a “cinematic 180 plus degree view for safe and enjoyable flight.”
Customers may preorder the car, which will cost around $300,000 and accommodate up to two people.
The FAA “issued a Special Airworthiness Certificate for the Armada Model Zero aircraft on June 12, 2023,” a spokeswoman for the agency told Fox Business. The aircraft may be operated with this certificate for a few specific tasks, such as display, study, and development. The FAA has previously awarded a Special Airworthiness Certificate for a similar aircraft.
Alef originally presented the automobile in October of last year, and since then, it has received a “strong” number of preorders from individuals and companies.
According to the firm, the FAA is developing regulations for the takeoff and landing of electric cars.
Alef CEO Jim Dukhovny, who also co-founded the business in 2015, expressed his excitement about receiving this accreditation from the FAA in a statement.
When they realised that 2015 was also the year Marty McFly drove a flying vehicle in “Back to the Future II,” Dukhovny and co-founders Constantine Kisly, Pavel Markin, and Oleg Petrovwere motivated to try to build a flying automobile, according to the company’s website.
According to the website, Jim Dukhovny discussed the possibility of flying vehicles in 2015 during one of the Science Fiction seminars. But he lacked the technical expertise to handle such a challenging undertaking on his own.
The four got together at a café and started working on a flying automobile.
The accreditation, according to Dukhovny, “allows us to come closer to providing people with an ecologically pleasant and quicker travel, saving people and businesses hours each week. For aeroplanes, this is a tiny step; for vehicles, it is a huge step.
Another flying vehicle was just showcased in Dubai
The electric flying automobile XPENG X2 made its debut public flight at Skydive Dubai in October of last year.
The largest Asian flying car firm, XPENG AEROHT, a subsidiary of XPENG, is where XPENG X2 is housed.
After completing the unique operational risk assessment and receiving a special flying authorization from the Dubai Civil Aviation Authority (DCAA), they performed their first flight.
The Texas Centre for the Missing said that a Houston man who went missing as a teen more than eight years ago has been discovered safe.
A missing persons flier said that Rudolph “Rudy” Farias IV had been missing since March 6, 2015.
After discovering him lifeless and covered in wounds and bruises outside of a church, someone dialled 911.
Rudy has been found safe after 8 long years, the Texas Centre for the Missing tweeted on Sunday.
As Rudy heals in the hospital, do keep his family in your prayers.
According to Farias’ mother, he will only utter a few syllables before curling up into the foetal position. She told KTRK that she expects the healing process to take a while.
His whereabouts are unknown.
Nearly 360,000 complaints of missing children were filed to the FBI in 2022, according to the National Centre for Missing and Exploited Children; this number may include duplicate reports.
Authorities in Baltimore said that two people were killed, 28 were injured, and a manhunt was going on as a result of a shooting spree during a block party.
A 20-year-old male and an 18-year-old woman were slain, while three survivors were in serious condition, according to acting police commissioner Richard Worley. According to him, officers were trying to identify potential culprits by watching footage and speaking with witnesses.
According to Mayor Brandon Scott, “every single city agency” would aid the neighbourhood in its rehabilitation. He pleaded for anyone who may have information to come forward.
“This was a reckless, cowardly crime that happened here that has irrevocably affected many lives,” Scott remarked. “I want those responsible to hear me, hear me very clearly we will not stop until we find you. And we will find you.”
The Baltimore Sun quoted Lakell Nelson, 54, as saying that there had been a number of false alarms caused by individuals mistaking the sounds of fireworks at the block party for gunfire in the hours prior to the shooting. The gunfire started, though, as she was walking away, and “the shots were just going on and on and on.”
She was approached by two young ladies who claimed to have been shot.
They were strolling up the street, so at first I wasn’t sure I believed them. When I asked her to “show me,” she said, “I was shot in my butt.” “I noticed the hole in her shorts when she turned around.”
According to Nelson, she instructed the women to board the vehicle and rushed past red lights to the closest hospital.
The largest maker of “ghost guns,” Polymer80, is being sued by Brady, the country’s oldest organisation dedicated to preventing gun violence, as well as the city of Baltimore. The lawsuit accuses Polymer80 of encouraging gun violence in Baltimore. Untraceable weaponry known as “ghost guns” may be purchased online and constructed at home. Last year, Maryland outlawed the selling of ghost weapons. The type of weaponry utilised in the incident on Sunday was not disclosed by Baltimore police.
Brady President Kris Brown issued a statement cautioning that the weekend of July 4th frequently marks a surge in gun violence in the United States.
A particularly American situation will force many families to be in grief on this Independence Day, according to Brown. “While America is the country of the brave and the home of the free, we won’t be fully free until We are not always in danger from gun violence. In America, things have gotten to the point where the public’s demand for sensible gun legislation can no longer be ignored by those in authority.
According to Worley, the gunshot happened in South Baltimore’s Brooklyn Homes neighbourhood shortly after 2:30 a.m. Nine people were taken by ambulance, and one lady was pronounced dead at the site, he added. Twenty people who had been shot and needed medical attention self-transported to nearby hospitals, according to Worley.
Residents should support the victims’ relatives and contribute to the inquiry, Scott suggested, treating them “how you would want people to treat it if you were mourning, if this was your neighbourhood.”
He also had a message for the perpetrators of the bloodshed.
Scott remarked, “I want people in charge to hear me, and hear me very clearly. “We won’t stop looking for you until we do, and we will. Before that,
I sincerely hope that with every breath you breathe, you would consider the lives you have taken and the lives you have influenced here tonight.
This year, how many mass shootings have there been?
According to the Gun Violence Archive, there have been 337 mass shootings in the United States so far this year. And according to the archive, which keeps tabs on mass shootings, more than 21,000 individuals have passed away.
According to the archive, a mass shooting occurs when four or more people—excluding the shooters—are hurt or killed.
Columbine, Sandy Hook, and Parkland are three horrible school shootings that will never be forgotten and are incredibly awful, to put it mildly.
Those events did in fact showcase the darkest aspects of who we are as a country, and they must never be forgotten. Each individual asked us questions on the problems in our society and the contributions that firearms, music, movies, and video games have made to our contemporary culture.
But the changeover has basically done away with the bloodiest school shooting in American history.
Few people now even recall the Bath School Massacre, and it is rarely, if ever, discussed in conjunction with those other horrific murders in the media. It regrettably doesn’t fit, which is the reason.the contemporary story .
No one could be held responsible for the deaths of forty-four persons, including thirty-eight children, and it would be a stretch to attribute the tragedy to video games or movies since it happened on May 18, 1927. Unlike earlier mass shootings at schools that have primarily occurred in the suburbs, this one happened in Bath Township, a rural Michigan town approximately 100 miles northwest of Detroit.
The fact that the murderer, farmer and school board treasurer Andrew Kehoe, did not also shoot up the school is even more notable. Instead, he destroyed the school while the students were inside by using extra dynamite and other explosives from the First World War.
Kehoe had been a farmer and the treasure of the school board.Students from the area were not delighted about being transferred to a new school. Although it resulted in greater taxes and a better education for the pupils, Kehoe was publicly opposed to the choice and charged the school administrator of financial mismanagement. Kehoe, in contrast to the archetypal “quiet loner,” was married and had a reputation for being both thrifty and short-tempered.
In the months preceding the massacre, Kehoe—who was also a certified electrician—experienced a number of setbacks. He was facing foreclosure on his farm due to being behind on the mortgage payments, his wife had TB, and he had unsuccessfully campaigned for township clerk. Those who knew him observed an altered individual who was depressed and did nothing to maintain the property.
Many thought he could have been thinking about taking his own life. All they knew was that he wasn’t going to travel alone.
He killed his two horses, his wife, and detonated his farmhouse on May 18.
Sadly, Kehoe felt that wasn’t enough. At 9:45 a.m., he detonated the explosives he had covertly placed at the school.The school’s north wing is where the dynamite was set off. The explosion was set off by an alarm clock. After driving his vehicle laden with explosives to the school, Kehoe detonated another device 30 minutes later, killing the school’s superintendent, three other people, and himself.
Later, 500 pounds of dynamite was found by the police in the south wing of the structure. The catastrophe may have been far worse except for a wiring short. There were forty-five fatalities and fifty-eight injuries overall. The fatalities included about a fourth of the town’s youngsters.
Newspapers attempted to make sense of the tragedy after the deaths made national headlines. Kehoe was seen as crazy, deranged, or insane. However, there wasn’t much knowledge about mental illness at the time, and some stories said that previous head traumas could have affected the man’s reasoning.
However, the article failed to capture readers’ attention in the days before the 24-hour news cycle. Just two days later, on theWhen Charles Lindbergh completed his first nonstop transatlantic flight, the bombing was no longer on the front page of the newspaper.
The town gradually made a comeback. Within a year, the school was fixed, and it remained in use until the 1970s, when it was demolished and replaced by a memorial park.
While the reason behind the slaughter is still unknown, Kehoe left a chilling warning on a sign that was fastened to the fence of his property: “Criminals are made, not born.”
The “Celebration” tour has been put on hold because of Madonna’s bacterial infection, which required her to stay in the critical care unit.
According to Page Six, the Material Girl was discovered unconscious over the weekend and was taken to a hospital in New York City. She was allegedly intubated there “for at least one night before having the tube removed.”
According to the story, the pop diva is awake, communicating, and has left the intensive care unit.
Lourdes Leon, Madonna’s daughter, was at her mother’s side during the medical emergency.
Guy Oseary, Madonna’s manager, acknowledged the hospitalisation amidst concerns for her well-being but declined to elaborate on the rumoured intubation.
He said in an Instagram post that “Madonna developed a serious bacterial infection on Saturday, June 24, which resulted in a several day stay in the ICU.” Her health is getting better, but she is still receiving treatment. A complete recovery is anticipated.
He stated, “At this time we will need to stop all obligations, including the tour, and the affected concert dates will be rescheduled.
On July 15, Madonna was scheduled to begin an 84-date world tour in Vancouver, Canada. She planned to perform songs from all 40 years of her discography throughout the trip.
After announcing the tour in January, she stated in a statement, “I am delighted to explore as many songs as possible in hopes to give my fans the concert they have been waiting for.
In her most recent social media image, the “Like A Virgin” singer could be seen practising for the tour.
One of the topics of discussion during the Covid epidemic in 2021 was Scarlett Johansson’s lawsuit against Disney for the way they handled the release of Black Widow. Even though a settlement was eventually reached between the House of Mouse and the former Marvel star, with Johansson reportedly receiving a settlement in the neighbourhood of $40 million, the lawsuit against Disney was the first indication that everyone did not agree with the day and date release of films in the early stages of the pandemic. Two years later, Johansson has spoken up about how her pregnancy helped her get through everything, as well as her regret and grief over how Disney first handled the situation.
Johansson no longer plays Natasha Romanoff in the Marvel Cinematic Universe, but that doesn’t mean she harbours any grudges against Disney for way her standalone Marvel film was handled. However, the actress acknowledged in her interview with Variety that the first Disney announcement regarding the case had made her feel dizzy. She uttered:
“I felt depressed and let down. but largely depressing. We were all alone at the time, and we were only just beginning to emerge a little. In a strange sense, it was perfect timing that I was also quite pregnant. Your entire focus is now focused on this wonder of life. I therefore had the best diversion ever, and shortly after, I gave birth to a lovely child.
Another kid has been welcomed by Robert De Niro. The 79-year-old is currently a seven-time father.
The birth was confirmed to The Associated Press on Tuesday, but no other information was anticipated, according to a spokesperson for De Niro.
De Niro described being a parent once more to The Associated Press at a movie screening on Tuesday night, saying, “It’s always good and mysterious and you don’t know what the hell is going to happen.”
Drena, 51, and Raphael, 46, are also children of the Oscar winner’s first marriage. Julian and Aaron, 27, Elliot, 24, and Helen Grace, 11, are twins from his second marriage.
Presently, De Niro is advertising the upcoming comedy “About My Father,” which premieres on May 26.
For his supporting performance in “The Godfather: Part II” and for best actor in “Raging Bull,” De Niro has won two Oscars. In addition, he received the Cecil B. DeMille Award from the Golden Globes in 2011 for his contributions to the entertainment industry. Five years later, he received the Presidential Medal of Freedom.
A second petition has been started in response to the first one, which sought to block Jordan Peterson from appearing at Prospera Place at the end of the month.
To oppose the plea to cancel the event that KelownaNow wrote about yesterday, Ryan Patterson established a petition on change.org asking Mayor Tom Dyas and council members to support Peterson’s upcoming tour visit.
As part of his Beyond Order globe tour, Peterson is anticipated to visit Kelowna on May 26 and give a speech at Prospera Place.
A few days ago, a petition was started asking the City to prevent the tour from taking place in Kelowna because it had angered several locals.
According to the petition, which has 800 signatures, “Mr. Peterson’s views directly jeopardise the safety and well-being of marginalised communities, especially women, transgender people, and gender non-conforming people.”
Peterson replied on Twitter, writing that “better people than this sorry lot have cancelled me.” narcissistic censorious virtue-signalers.
The most recent petition on the subject paints Peterson in a very different light.
It states that Peterson “has been a voice of reason in an increasingly polarised world” and that “his lectures and writings have inspired millions of people throughout the world.”
Social media posts about the trip reflect the polarising nature of the Peterson debate in local communities throughout the nation.
A coalition of neighbourhood organisations and a municipal councillor petitioned for the event to be postponed before Peterson was scheduled to speak in Ottawa as a stop on his tour in January, but that was not the case and the event went ahead as scheduled.
The recent back-and-forth amongst neighbourhood residents who are petitioning adds to the division that has surrounded Peterson.
The most recent comments made by Danielle Smith came from a podcast in 2021, not long after she quit her prior job as a radio talk show host. Danielle Smith has made a lot of bizarre (or at least intemperate) statements.
Smith didn’t quite say that.
How to Become a Tyrant was a Netflix series that Smith had been watching. (I didn’t like the six-part docuseries’ cutesy music, but the explanation of how tyrants seize and control nations is worth viewing.)
When countries are facing a catastrophe (like a pandemic), it is all too easily for them to fall for “experts” or strongmen who promise a quick and easy way to stability and safety, as the Germans did under Adolph Hitler, remarked Smith, who was a private person at the time.
Smith’s response was overly scholarly. And it shows a narrow understanding of how her statements may be taken. Her deafness to regular Albertans is what leads her into trouble more than anything else.
Nevertheless, Smith is the best protector Albertans currently have against the federal Liberals and the Alberta “progressives” who want to increase taxes, outlaw guns, cripple the energy industry, obstruct pipelines, restrict the use of farm fertilisers, censor the internet, increase spending, and continue to impose pandemic mandates, despite the fact that more and more evidence is being released all the time demonstrating that while vaccines worked, so did natural immunisation.
Additionally, outside from extremely particular situations like hospitals and senior living facilities, social withdrawal, masks, and lockdowns were mostly ineffective.
Smith may not be the best choice for our province, but is there anybody else who will be able to better fend against attacks on our economy and our way of life?autonomy and the way of life in Alberta?
Just this weekend, the federal Liberals reaffirmed their support for vaccine requirements at their national conference. This is interesting considering that Liberal Leader Justin Trudeau declared only a week prior that he had never pushed someone to become immunised. (He must believe that his ban on plastic straws was the reason for the Freedom Convoy.)
The Liberals supported requiring vaccinations for passengers travelling on commercial aircraft, cruise cruises, and other federally controlled vessels. Without vaccinations, federal employees would continue to lose their jobs, and the Trudeau administration would put pressure on companies in privately controlled sectors of the economy to implement vaccination requirements.
This is true even though a recent research published in the British medical journal The Lancet revealed that among 175,000 people, earlierDespite vaccinations being more effective against hospitalisation and mortality, infection with COVID offered higher protection against re-infection for a longer period of time.
Nearly as extreme a view, in the other way, as anti-vaccination, is the progressives’ unquestioning confidence in vaccine requirements.
Can you see Rachel Notley and the NDP defying federal pandemic orders given their adherence to an all-powerful government and government-approved science? or, for instance, the carbon tax?
I can’t.
If there is ever another pandemic, Albertans are much more likely to see more lockdowns, school closures, mask mandates, and vaccination passports under the New Democrats than they would the most recent science-based policy.
The wildfires and state of emergency have caused the provincial campaign to start slowly. The contrast is still, in my opinion, pretty sharp.
Under the NDP, both taxes and expenditure would increase. Energy policy would once more be in the hands of environmentalists. The health and safety laws that apply to industries and building sites would also apply to farmers.
And what about federal constitutional violations? The NDP supports the majority of Trudeau’s policies.
In the end, rather than Smith’s idiotic tantrums, I believe the NDP-Liberal alliance will decide this election.
