Intriguing IPOs (Definitely Not Figma): Carlsmed (CARL)

The medical device company's market cap may be less than 1% than Figma, but it looks more appetizing for individual investors for many reasons.

The Good Samaritan, Franciszek Sobiepan, 1828, oil on canvas (National Museum in Warsaw)

I thought I was going to be writing about the Figma (NYSE: FIG) IPO this week…

Considering how much fanfare surrounded the company’s IPO, I assumed there must be some stellar business behind all of it.

Needless to say, I was disappointed with what Figma has to offer to its investors. The more I read the prospectus, the more perplexed I became about why people were so excited about this company going public.

Perhaps even more discouraging is that there is a fair share of more compelling investments for individuals coming to market than what Figma is serving up to the public markets.

So instead of dwelling (too long, I have to rant a little) on Figma’s unappealing offering, I want to focus on another recent IPO: Carlsmed (NASDAQ: CARL). The early-stage medical device company may be entering a crowded space, but there is a lot to like in this offering.

Let’s dig in.