So Citi kicked off earnings season this morning
Quote:
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Citigroup beats analysts’ expectations for profit and revenue on gains from the initial public offering of electronic bond trading platform Tradeweb.
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That Tradeweb is up 75% since IPO. I wanted to buy some but got a small position thinking it listed fairly expensive. It's just kept going up tho like a lot of this year's IPOs. I think it's getting compared to MarketAxess which is a similar business and is up 600% the last 5 years. Tradeweb doesn't have as good of margins tho.. think it's too run up. There are a ton of new IPOs up 100% YTD now. Anything in payments or fin techy seems to be doing really well ytd. FDC, GPN, mktx. even just Mastercard is up 50% already this year. I sold some of my holdings in this area.