FNKO - Weber's Well-Done IPO Downsized To Rare Priced Below Range Top

• Outdoor grill maker Weber's IPO has been downsized from 47M shares to just 18M shares. This rarity of shares may serve up a happy meal for traders.
• Also, pricing on the deal is $14 per share, below the anticipated $15-$17 range. This could be the dinner bell we hear ringing.
• Finding IPOs that stumble out of the gate can sometimes be a profitable trade. This week's tremendous follow-up trade in the poorly received Robinhood IPO is solid evidence.
• Weber was expected to be a high interest offering, but the IPO market has become so flooded that this IPO has been impacted. Rather than pull the IPO, Weber has downsized and priced below range.
• The weak IPO market may have handed traders a gift. The Weber IPO debut may be a long position worth entering tomorrow on 8/5/21.

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