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Moonpig’s IPO a success, celebratory chocolates are in the mailINTL

Moonpig’s IPO a success, celebratory chocolates are in the mail

Congratulations are in line for Moonpig (we can’t get over the name, that’s all!).

Last week we talked about how the online greeting cards retailer was gearing up for its London Stock Exchange debut. And what a stellar entrance for Moonpig, whose shares soared as much as 29% on its first trading day after a very successful $672m IPO.

Tech companies tend to list on the NYC-based Nasdaq index, so this is also a win for London, with a new surge in IPOs injecting some hope into the post-Brexit economy.

Their LSE debut showed once more that investor appetite is geared towards businesses that actually benefitted from the coronavirus-related restrictions. Moonpig’s sales more than doubled in the six-month period ending on October 31.

why it matters
Many online-only retail businesses have been taking advantage of the current economic environment to go public or strike major deals in the past few months. This is also true for those who traditionally held brick-and-mortar stores but successfully migrated online in order to cope with the effects of the pandemic, such as Moonpig.