VIA optronics ($VIAO) made its debut on the NYSE Friday, with an initial public offering priced on the low end of expectations to raise $93 million, but the display technology company still sees a bright future ahead.
"We are right now at a breaking point. We are an emerging market, and we cannot grow that much as we want organically so we have to put some investment in," said Jurgen Eichner, Via optronics CEO. "This is basically what we need the proceeds for."
The initial public offering was priced at $15, but opened at $12. By mid-afternoon shares were trading around $10.
VIA builds sunlight-readable displays with wide temperature ranges and screens with touch and gesture features. Customers of the German-based manufacturer include household names like Dell, HP, Ferrari, and BMW.
Despite the coronavirus pandemic, the need for screen tech is still widespread and growing, according to the CEO.
"Our factory was actually shut down in China for one week," Eichner said, regarding first quarter impacts from the coronavirus pandemic that didn't derail the company's targets for the year.
"We are right now fully running again, and on top of that, actually, we have some advantages of that because it boosted the home office, home learning markets," he added.
The manufacturer also apparently had few issues with its supply chain, escaping adverse impacts of global supply networks disrupted by COVID-19 even with production facilities in its native Germany, China, and Japan.
"Our supply chain has not been affected, to be honest. One of the reasons is that we do most of the products actually in-house, so we buy only raw materials and, of course, some display glass from the display manufacturer," said Eichner. "So we've been very lucky."
Scott Gutz, CEO of Monster.com breaks down the company’s Work Watch Report for 2024, including what’s motivating workers to look for new positions and why they should see A.I. as an opportunity.
Tom Graff, Chief Investment Officer, Facet, discusses what the latest jobs report says about this ‘pretty good’ labor market and why the market should worry less about the Fed’s next decision.
Universal Music Group, which represents artists including Taylor Swift, Drake, and Ariana Grande, has removed its music from TikTok and accused the app of bullying and intimidation.
The average rate on a 30-year mortgage fell 0.06% last week. Although the rate is much higher than it was two years ago, the decline could relieve buyers already dealing with low inventory and high prices.
As millions of Americans are set to retire, John Carter, President & COO of Nationwide Financial, shares what to expect and how consumers of all ages can better prepare for their golden years.
The heated hearing began with recorded testimony from kids and parents talking about being exploited on social media. Throughout the hours-long event, parents who lost children to suicide silently held up pictures of their dead kids.
Adtalem CEO Steve Beard addresses a report from Safkhet Capital taking the short position on the for-profit education giant, plus why he believes there should be financial recourse for student loan borrowers misled by their institutions.
