Intriguing IPOs: Grupo Auna (AUNA) and Astera Labs (ALAB)

While much of Wall Street will be fixated on whatever Reddit has to offer, a Latin American healthcare provider and an AI hardware supplier look like far more interesting businesses.

St. Augustine in His Study, Vittore Carpaccio, 1502, tempera on canvas (Scuola di San Giorgio degli Schiavoni)

2024 has been a slow start for the IPO market, so it feels quite strange to see three relatively large(er) companies schedule their IPOs in the same week.

Reddit is the most recognized company expected to go public this week, but recognizable doesn’t necessarily mean good. I’m sure some people are excited to see Reddit go public, I can’t say I’ll be one lining up to buy shares. An almost 20-year-old social networking site still posting losses and needing about $100 million in external capital annually doesn’t sound too appealing to me.

At the same time, though, two companies are looking to raise big money that are more interesting: Grupo Auna (NYSE: AUNA) and Astera Labs (NASDAQ: ALAB).

Here are my knee-jerk reactions to both IPOs.

---

Shoutout to Koyfin for their data and charts. Koyfin has become an integral part of how I screen for, track, and analyze companies. It has made the analysis process much faster thanks to having a decade of data at my fingertips instead of manually going through stacks of quarterly and annual filings.

Up your analysis process by Signing up for Koyfin. Click on the link below and receive 10% off your annual subscription.

Disclaimer: I have an affiliate partnership with Koyfin and receive compensation if you sign up via the link above. It helps me fund this endeavor. I would still recommend using it even if I didn’t have this partnership because it’s an awesome product, but I’d be stupid to turn down a revenue opportunity. You get a discount, Koyfin gets new business, and I get a commission. Win-win-win).