The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LOS ANGELES, United States — After a droopy initial public offering, skin-tightening company InMode Inc.'s fortunes reversed when singer and American Idol judge Paula Abdul signed on as brand ambassador and debut quarterly results wowed. Next week, some analysts will have their first chance to say whether the stock is hot or not.
The shares priced at the bottom of the offering range and fell on the first day of trading. But since then, it’s been a steady upward climb, 55 percent above the listing price and hovering near record intraday highs. Still, the gains look tame when compared to other medical product providers such as Shockwave Medical Inc. and Silk Road Medical Inc., which more than doubled since their respective IPOs.
The provider of medical technology for minimally and non-invasive beauty treatments could see its first initiations as soon as Tuesday when a 25-day regulatory hush lifts for those at underwriting banks. Its IPO was led by Barclays, UBS, Baird and Canaccord. Currently, there’s no analyst coverage on the stock.
Analysts may have a difficult time arguing for much more upside after the stock’s run-up. However, it’s possible bullish reviews could lift shares even higher, propelling the momentum that began Aug. 13 when pop icon Abdul became brand ambassador, noting that at age 57, living healthy can only take you so far. Later that day, InMode posted quarterly sales that rose 55 percent year-over-year and a fatter operating margin.
By Crystal Kim; editors: Brad Olesen, Will Daley and Catherine Larkin.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.