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Read previewAsia's version of Chipotle — a Mexican fast-casual chain called Guzman y Gomez — just went public in Australia. The initial public offering brings GYG's valuation to 2.2 billion Australian dollars, or $1.47 billion. The US-based Mexican fast food chain is valued at $94 billion and posted a revenue of nearly $10 billion last year. Chipotle owns and operates all of its restaurants, unlike GYG, which follows a franchise model. They are only available to institutional investors, eligible employees and franchise holders, and retail clients of brokerages who have been allocated GYG shares, the company said in a pre-IPO release.
Persons: , Guzman y Gomez —, GYG, Steven Marks, Marks, Chipotle, Michael Hutchens, didn't, Hutchens, brokerages Organizations: Service, Australian Securities Exchange, Business, Morningstar, Growth Partners, Barrenjoey, Cooper Investors, Hyperion Asset Management, Firetrail Investments, QVG Locations: Mexican, Australia, Sydney, Singapore, Japan, North America, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is room for the US housing market to run, says fund managerAnthony Doyle from Firetrail Investments explains why he thinks it "pays to take a contrarian view" and continue investing in the U.S. homebuilders sector.
Persons: Anthony Doyle Organizations: Firetrail Investments Locations: U.S, homebuilders
Meanwhile, Fed Chairman Jerome Powell said last week that interest rates are likely to remain "higher than previously anticipated" — usually viewed as bad news for the tech sector. But some market pros see the volatility as an opportunity to snap up growth stocks at bargain prices. Big Tech stock picks Speaking last week, before the sell-off, Sylvia Jablonski, chief investment officer at Defiance ETFs, urged investors to watch for pullbacks. AI is expected to grow at a compounded rate of 37% by 2026, Jablonski added, citing research by global market intelligence firm International Data Corporation. Firetrail Investments' Anthony Doyle also identified Microsoft as a tech stock he's bullish on , despite the volatility.
Many companies will find a higher-interest-rate environment very difficult to operate in — as demonstrated by the Silicon Valley Bank crisis, according to Anthony Doyle, head of investment strategy at Firetrail Investments. "It is not a time to be taking beta and index exposure in a higher-interest-rate and a higher-cost-of-capital world," Doyle told CNBC's "Street Signs Asia" on Monday. It comes after financial regulators closed Silicon Valley Bank and took control of its deposits, in what is the largest U.S. bank failure since the global financial crisis over a decade ago. SVB was a major bank for tech and venture-backed companies, which are under pressure due to higher interest rates. "We expect the market to tighten up despite some of the glut of semiconductors that we've seen more recently.
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