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As I write this newsletter for you on Sunday evening, focused on the IPO market for this week...
Having just returned from another day of backbreaking renovations on our 1912 farmhouse…
I’m glad to say we finally have some action!
However, it’s going to be another slow week with essentially only one interesting IPO on the schedule thus far.
Now, some data feeds also flag a listing later next week, but for the current week we don’t have a robust slate of offerings like the past few months…
But that’s typical for this time of year.
Keep in mind though, the IPO market will come roaring back, and it will happen soon.
So, let’s get into what is interesting on the ledger…
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FreeCast, Inc.
Expected to begin trading on the Nasdaq Global Market under ticker CAST (anticipated March 3, 2026), FreeCast builds unified streaming platforms aggregating free live TV and on-demand content, plus provides backend streaming and advertising technology to media and broadband partners.
Deal type: Direct listing (not a standard IPO). In a direct listing the company doesn’t raise new capital the way it would in an IPO. Instead, existing shareholders simply make their shares available for trading.
Underwriters / Advisor: Maxim Group (financial advisor)
Deal size & pricing: No formal deal size or price range has been set because this is not issuing new shares; shares become tradeable via market demand.
Why it’s interesting: FreeCast’s move is a bit nontraditional in a market that’s been quiet. A direct listing sidesteps underwriting costs and lets early holders monetize their stake without diluting shareholders, but it also means no fresh capital for growth.
That makes this an interesting test case for how much appetite Wall Street still has for media/tech names without the cushion of a capital raise.
Market context: Traditional IPO activity has been muted at this point in 2026, with many planned deals delayed or withdrawn amid market volatility and valuation scrutiny.
A single direct listing in a slow week often reflects broader investor caution: companies that do go public are choosing alternative paths, while others wait for clearer signals from major IPO bellwethers.
What This Means This Week: In a normal market, you’d see a handful of U.S. IPOs pricing each week… ideally across tech, industrial, and consumer segments, with detailed deal sizes, underwriters (Goldman Sachs, JPMorgan, Morgan Stanley, etc.), price ranges, and estimated valuations.
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Right now, that slate is basically empty for the current week, and everyday companies are delaying traditional IPOs rather than launching them. Hence the direct listing route from FreeCast.
However, be prepared for the next few weeks, I think we’ll see some interesting names start to jump in.
IPO Stream Premium members, I’ll be sending out an email breaking down FreeCast a bit deeper, and I’ll give my 52-week probability the stock trades higher next year than it does on debut day…
Because, like I said last week, the probability of winning matters. Making money matters.
Have a great week,
Tim.
To join IPO Stream Premium, and get Tim’s probabilities of success, simply click HERE.
