FIGS IPO

[Redpancreas]

Not sure if this belongs here but FIGS (popular healthcare apparel) went public under the NYSE today.

Pros:
1.) This year is the first many hospitals are announcing that scrubs be the default on inpatient rotations for residents and medical students. It's been the default since March 2020, but now's the first time they're telling everyone right off the bat this is the new way to go.

2.) Figs is the most known brand to medical professionals on social media. Competitors like Jaanuu are still trying to gain recongition.

3.) The company's jumped up to $28, ideal for options/stock trading for non-attendings.

Cons:

1.) Somewhat overpriced.

2.) Ad controversy last fall.

3.) Limited growth if you calculate the valuation. P/E ratio 86.80 so it's definitely a bit high but I expect a jump.

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[Chemist0157]

I tend to avoid IPOs for investing. You can trade anything though once there is a trend.

 

[Redpancreas]

Yeah I sold my shares for a few hundred $. I was debating holding out until July when everyone starts buying scrubs but decided the company's too overpriced...kind of like the scrubs. The brand's strong though.

Edit: Kept half shares. Let's see.