Is Bending Spoons (BSP) Stock Worth Buying After Its Stunning Nasdaq IPO?

TLDR

• Bending Spoons opened at $31 and closed at $40.50 on its Nasdaq debut, up nearly 40% from its $29 IPO price
• The company raised $1.68 billion, pricing above its marketed range of $26–$28
• BSP is sliding 5.7% in pre-market trading Thursday as investors take profits after the first-day surge
• The company carries nearly $4.4 billion in debt against Q1 2026 revenue of $601 million and net income of just $27.5 million
• Bending Spoons has made 50+ acquisitions including Vimeo, Eventbrite, Brightcove, and AOL

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Bending Spoons made a splash on the Nasdaq Wednesday, closing its first trading day at $40.50 — nearly 40% above its $29 IPO price. The Milan-based firm opened at $31 and ended the session with a market cap of $25.7 billion.

The company and its selling shareholders raised $1.68 billion, pricing 58 million shares above the marketed range of $26 to $28. That kind of demand doesn’t come along often in the software IPO space.

Software companies have been largely absent from US listings in 2026, even as overall IPO proceeds topped a record $100 billion in Q2. Bending Spoons is the rare exception — and the market noticed.

Nasdaq: $BSP pic.twitter.com/0TjkOt8Zma

— Bending Spoons (@bendingspoons) July 1, 2026

The company’s model is unusual. It buys underperforming digital businesses, cuts costs aggressively, restructures operations, and accelerates product development. Think private equity, but it never sells.

Acquisitions since 2025 include Vimeo, Brightcove, Eventbrite, and AOL. CEO Luca Ferrari says the company has identified over 1,000 potential future targets.

“We’re not in a position to announce anything, but we’re very active,” Ferrari said.

The Debt Problem

The excitement didn’t last long into Thursday. BSP is down 5.7% in pre-market trading as first-day buyers cash out. The IPO formally closed today, July 2, which historically triggers a round of profit-taking.

But there’s a more structural concern weighing on the stock. Bending Spoons carried nearly $4.4 billion in debt heading into the listing. Against Q1 2026 revenue of $601 million and net income of just $27.5 million, that’s a heavy load.

Rising interest rates have pushed annualized interest expense into the hundreds of millions. That’s not a small line item when your quarterly profit is $27.5 million.

As a foreign private issuer, the company also faces fewer US reporting requirements than domestic peers, which gives investors less visibility into its operations going forward.

Market Context

Wednesday’s broader market didn’t help either. The Nasdaq Composite fell 0.7% as investors questioned how much further the AI-driven rally could run. The S&P 500 and Dow Jones dropped 0.2% and 0.03% respectively.

Chipmakers led the decline, with Micron, AMD, and Intel all posting losses. US futures edged lower Thursday morning ahead of the June jobs report, following data showing private-sector hiring slowed more than expected in May.

Bending Spoons was founded in 2013 on the $40,000 left over from the liquidation of a failed diary app called Evertale. The name comes from a scene in “The Matrix.”

The company has since grown to more than 50 acquisitions. Unlike typical private equity, BSP holds onto everything it buys.

Analyst Matt Kennedy at Renaissance Capital noted the company “has a very different profile compared to most software IPOs in the pipeline.”

“It’s an interesting story, and they’ve done a good job creating a cohesive narrative around owning more than 50 businesses. The ‘fix it with AI’ pitch makes sense in theory, though we would have liked to see a longer track record,” he added.

BSP stock closed Wednesday at $40.50 and is trading around $38.20 in pre-market Thursday.