Nymex Goes Public Today
The New York Merchantile Exchange goes public today (NMX), and it is certainly the IPO to jump on. We have been in a bull market for exchange stocks these last few years, which has seen stocks like CME, CBOT and ICE outperform the market handily. I believe NMX will do the same and while the stock will not be available at the IPO price of under $60 to the general public, I would still consider buying at $90 (yes that is where I think it will be available to individual investors).
With earnings growth clocking north of 70%, NMX will possibly outpace the competition for some time to come. Additionally, this market certainly has an appetite for big IPO’s – case and point Mastercard (MA) and Wynn Resorts (WYNN), both fairly recent IPO’s that have made investors who bought it early on, a lot of moolah.
– Faisal Laljee
