Vanda Research anticipates approximately $250 million in net retail buying during Anthropic's public market debut. Only six stocks have surpassed that specific single-day threshold since 2024, placing the upcoming listing in rare territory. The forecast relies on historic listing data alongside pre-IPO perpetual futures trading volumes on the Hyperliquid exchange. Anthropic is scheduled to float its shares on the Nasdaq on November 19 at a targeted valuation of up to $1.4 trillion.
Key points
Pre-IPO perpetual futures trading on the Hyperliquid exchange signals unprecedented retai…: Pre-IPO perpetual futures trading on the Hyperliquid exchange signals unprecedented retail demand for the artificial intelligence firm.
Reaching $250 million in single-day retail purchases would place Anthropic among only sev…: Reaching $250 million in single-day retail purchases would place Anthropic among only seven stocks to achieve the feat since 2024.
Retail investor activity during the upcoming market debut is positioning the listing to b…: Retail investor activity during the upcoming market debut is positioning the listing to become a historic market event.
Sources checked by our analysis pipeline: 1
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Nov 11 : Anthropic could see record buying by retail investors in its market debut, potentially surpassing SpaceX and making it one of the biggest single-day retail purchases in history, Vanda Research said in a note on Wednesday.
The research firm expects Anthropic's debut to attract about $250 million in net retail buying, based on its analysis of retail activity on listing days and the volume of its pre-IPO perpetual futures traded on Hyperliquid. This would be twice SpaceX's IPO record of $118 million in retail buying.
"Judging by pre-IPO perp trading, Anthropic is shaping up to be a record retail IPO," Viraj Patel, global macro strategist at Vanda Research said, in the note.
Pre-IPO perpetual futures are a type of derivative contract which trade on exchanges like Hyperliquid and Coinbase, and allow traders to bet on private companies' valuation. They have no direct link to the underlying shares but are priced with reference to the company's latest disclosed pre-IPO valuation.
Only six stocks have topped $250 million in single-day retail buying since 2024, the data…
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