Have I Got a Stock For You; Oh To Be A Farmer; and Shooting For The Sky

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Finally, we close with brief comments on Have I Got A Stock For You, Fence Row To Fence Row, and Shooting For The Sky.  First, according to data from Refinitiv, U.S. IPO Activity continues to heat up.  Numerous companies, such as Palantir and AirBNB, continue to file to go public, as public valuations continue to soar.  First day appreciation stands at almost 25%, above the recent peak year of 2014 and potentially exceeding the Dot Com peak year of 2000.  With over $70 billion already issued this year and the number of IPOs filed, 2020 IPOS stand on track to exceed the record amount raised in 2000.  With more and more companies headed to the public markets, we see stock brokers saying: Have I Got A Stock For You.  Second, despite mediocre crop prices, due to the pandemic, U.S. farmers appear set to see their net cash income rise in 2020 by ~4.5%.  For this fortuitous outcome, they need to thank the U.S. Government who provided the industry with $37.2 billion in payments this year compared to just $14.7 billion last year, due to disaster assistance for COVID relief.  This is despite the epicenter of the pandemic occurring in major cities across the U.S.  Oh To Be A Farmer.  And Third, Manufactured Home Shipments are climbing once more.  According to the U.S. Census Bureau, shipments rose 4.9% Year Over Year in July, after falling just 2.5% in June.  August sales appear set to rise double digits.  For manufacturers such as Skyline Champion, the largest in the industry, they appear to be Shooting For The Sky.



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