New York : For the first time in history, a Pakistani business is going public and will be listed in the United States on the NASDAQ stock exchange under the NASDAQ symbol: GPAK.
Accorading to Forbes in America, the top ten ranked teams in the world are worth $1/4 billion USD each.Pakistan already has 2 players ranked in the top 25 in the world. Recently the Pakistani government recognized esports as an identifiable sport and business area for growth and sanctioned and condoned the industry.
Esport stocks on NASDAQ have experienced meteoric 1st day rises – or 1st day pops as much as 500 to 700%. They have not fared as well long term, however, it is a nascent and emerging industry and still in its seeming infancy.
Up until recently, the public common investor typically did not have access, nor could purchase IPO shares. These New Issue shares were typically reserved for very large retail investors with accounts of $10 million or more or Institutional Investors.
Today, thanks to the internet and the rise of the fin-tech industry, a new company emerged called Click-IPO. ClickIPO is a free app which any investor can download and purchase IPO shares of companies going public.
According to Statista, first-day IPO stock performance does historically show returns. IPO pops, (1st day performance) are not new. According to data from Jay Ritter, the average IPO pop from 1980 through 2020 was 18.4% (in one day).