Freetrade were ready and waiting the morning of the Kanabo and Cellular goods IPOs. These were anticipated IPOs in demand from customers. Neither have held their gains from their day one spikes and are trading down 50% and 60% respectively from their peaks. These companies are currently valued at £88m and £53m respectively. These seem be the IPOs Freetrade are ready and waiting to serve their customer base with - from day one.
On the other hand last Friday AMTE Power IPOd on the LSE. Seems to have been completely ignored by Freetrade and hasn’t been onboarded yet. It has made over 31% in gains since the first day of trading, and more importantly held onto those gains. It has a market cap of nearly £110m now (bigger than Kanabo and Cellular Goods), is in the battery/EV space which Freetrade should know would command interest from their customer base and has daily volumes in the millions, so execution shouldn’t be an issue either.
LSE IPOs should ideally be treated equally, but right now it seems like Freetrade are giving priority preparation, social media acknowledgement, and onboarding to stocks which have so far turned out to be underperformers while ignoring or being late to the party on stocks which go on to outperform
If you want your clients to grow their balances “the right way” you should at least be giving them a fair crack at the whip from day one right?!! Same can be said for the slow onboarding of the hottest SPACs etc.