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Today is Thursday August 11, 2016

The #1 IPO of the year is Acacia Communications

The ticker symbol is ACIA

We referred to it when we talked about Twilio (TWLO) this past Monday

Just like we predicted that Twilio would report great numbers in its 1st earnings report

The same thesis worked for Acacia

Acacia had its first earnings report since its IPO

Many thought it would have a terrific report.

Last Friday Acacia traded at $63

Today it gapped up to $73 early in the morning

But then sellers took control towards the last few hours

It actually finished the day in the red

It closed at $67

Then it gapped up 20% after-hours

It hit $84 after-hours

And it settled at $81.65 at 8pm EST

The stock soared after-hours because it crushed expectations

Analysts predicted revenue of $85 million

It earned $116 million

Analysts predicted EPS of 30 cents

EPS came in at 77 cents

It also raised guidance for next quarter

Look for upgrades Friday and next week

We think Acacia can hit $100 by the end of the year

As long as the overall market continues to climb

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