|Bid||77.39 x 800|
|Ask||78.20 x 900|
|Day's Range||77.20 - 77.56|
|52 Week Range||57.82 - 78.17|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.06|
|Expense Ratio (net)||0.59%|
Investing in IPOs isn’t easy—nor should it be. These two ETFs take two very different approaches to making IPOs more accessible to individual investors. But they’re not for everyone.
The successful market debut of Beyond Meat could pave its entry into a number of ETFs in the coming days. Investors seeking to take advantage of this could play these ETFs in the months ahead.
Investing in multiple IPOs at the same time can be a difficult task; however, investors can easily tap the IPO resurgence with the two domestic-focused ETFs.
Shares of ridesharing company Lyft hit fresh lows on Wednesday, falling as much as 6 percent as skepticism regarding its valuation continues to put downward pressure on its stock price. After debuting with an opening price of $72, Lyft continues to struggle with analyst downgrades early on in its publicly-traded existence. Lyft was already in a tenuous position prior to its IPO debut--according to S&P Global Market Intelligence, Lyft posted a loss of $911 million in 2018, making it the most any U.S. startup has lost in the 12 months leading up to its IPO. Lyft did post a record $2.16 billion in revenue, but according to Ilya Strebulaev, a Stanford University business professor who studies late-stage startups, that doesn’t necessarily translate to success once going public.
Probably taking cues from the Lyft IPO debacle, Pinterest has toned down its IPO pricing. This might help the company maintain its IPO price once public, benefitting these ETFs.
Renaissance Capital's early 2019 research portended good things for the IPO market. In January, the financial firm cited a “large backlog” of U.S. IPOs that grew during the federal shutdown. In February, it found more than 220 private companies looking to go public this year, including Uber, GE Health Care, WeWork and Airbnb.
After debuting last week with an opening price of $72, Lyft continues to struggle with a 3 percent drop on Tuesday with analyst downgrades putting pressure on the ridesharing company early on in its publicly-traded existence. Michael Ward, an analyst at Seaport Global Securities, issued Lyft a sell rating and a 12-month price target of just $42 a share--a drop of over 40 percent from its opening price. Ward cites the company's valuation as a cause for skepticism.
In only its second day of trading, the Lyft IPO fell 10 percent, falling below its initial $72 per share offering while the Renaissance IPO ETF (IPO) gained 1.20 percent--a prime example for choosing ETFs over individual stocks in a hit-or-miss IPO sector. IPO is up over 31 percent year-to-date. Its top holdings speak to the diversity of its portfolio, which includes Elanco Animal Health, VICI Properties, Spotify Technology, and Okta--all from various sectors.
The Renaissance IPO ETF (IPO) is up 30.37 percent year-to-date, which might mean that initial public offerings (IPOs) are in a good place, but the record for startups hitting Wall Street show that most typically sputter. The company is expected to make its IPO available this week and in the long-term, hopefully buck a trend that doesn't favor IPOs. According to S&P Global Market Intelligence, Lyft posted a loss of $911 million in 2018, making it the most any U.S. startup has lost in the 12 months leading up to its IPO.
First Trust Advisors L.P. announces the declaration of distributions for 115 exchange-traded funds advised by FTA.
eBay is cashing in on its structured data and artificial intelligence strength while PayPal is focusing on inorganic growth via several partnerships. Are ETFs better options to play the stocks?
Thermo Fisher Scientific (TMO), a leading life sciences company, is scheduled to release its third-quarter earnings on October 24. Wall Street analysts expect the adjusted EPS to be $2.55 on revenues of $5.7 billion during the third quarter.
Investors looking to access initial public offerings in Europe have a new exchange traded fund with which to accomplish that objective. The First Trust IPOX Europe Equity Opportunities ETF (NASDAQ: FPXE ...
This year has been very successful for tech IPOs and Eventbrite was the latest addition to the same as it rose about 70% on its opening day, drawing attention to IPO ETFs.
After two lackluster years, the U.S. IPO market has made an impressive comeback this year, with companies raising capital at a pace seen in the past two decades.Source: Shutterstock