Case studies Archive

Jun 17, 2021
How Square managed guidance and cryptovolatility
On March 17, 2020, San Francisco and the surrounding Bay Area counties went into lockdown – the first in the US. For most of the 7 mn residents of the Bay Area, the lockdown raised questions about how to protect themselves from the spread of Covid-19 and how to work remotely. But for the IR team at Square, the financial services and digital payments company, there was the small matter of an investor day that had been planned to take place on March 18, 2020. ...
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Jun 15, 2021
How Unity used a modified auction to go public
It’s not too long ago that the IPO was the only mainstream route to market for private companies in the US, although, in recent years, direct listings and special purpose acquisition companies have taken a sizable share of that pie. For a small number of companies, however, there’s a fourth option: a modified auction.  This was the method chosen by Google in 2004, but it didn’t catch on – at least, not until September 2020, when Unity Software revived it. I...
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Jun 14, 2021
Record number of CFOs believe US equity market is overvalued
As the S&P 500 continues to mark new highs, finance chiefs believe valuations are looking increasingly stretched, according to new research. A record 86 percent of finance chiefs polled by Deloitte for its Q2 CFO Signals report say they believe US stocks are overvalued, a rise from 83 percent last quarter. The respondents, totaling 138 CFOs base...
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Jun 08, 2021
Advisory Intelligence: ‘Deals and data’ are heartbeat of biotech
Sponsored content For companies in the biotech sector, 2021 is off to a fast start as capital-raising among new issuers crossed $6.1 bn as of June 1. The US market has welcomed 45 new biotech listings in the first five months of the year, a staggering increase of 200 percent on the same period in 2020. Following months of relative outperformance last year, however, the biotech sector may face some uncertainty in the coming months, says Jeff Larocque...
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May 27, 2021
AstraZeneca, BBVA and Polymetal out in front as short lists released for IR Magazine Awards – Europe 2021
IR Magazine has released the short lists for the IR Magazine Awards – Europe 2021, which celebrate best-in-class investor relations across the European market. AstraZeneca, BBVA and Polymetal International have taken an early lead with four nominations each. Running close behind are a host of companies with three nominations each, including Aker Solutions, All...
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May 21, 2021
The week in investor relations: ETF inclusion hurts performance, investors back late-cycle stocks and climate rebellions mount
– US large-cap stocks commonly held by ETFs underperform compared with companies that have lower ETF ownership, according to the Financial Times (paywall). The research, conducted by Vincent Deluard, global macro strategist at StoneX, says the poor performance has become more pronounced over recent years. The findings add to concerns by some investors that ETFs lead to ...
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May 04, 2021
No evidence for ESG alpha, claims new study
‘Claims of positive alpha in popular industry publications are not valid because the analysis underlying these claims is flawed,’ state the authors of a new study looking at whether ESG metrics deliver outperformance as is widely claimed. New academic research from Scientific Beta, a ‘smart beta’ index provider, and published in the paper ...
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