|Bid||33.17 x 800|
|Ask||33.26 x 800|
|Day's Range||33.00 - 34.23|
|52 Week Range||26.66 - 34.44|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||6.73%|
|Beta (5Y Monthly)||1.19|
|Expense Ratio (net)||0.60%|
Companies that stay private too long may not have a good exit strategy, says Renaissance Capital's chairman.
Initial public offerings (IPOs) like Uber and Lyft may have had investors wishing they never took those rides in 2019, but what could be in store for 2020? “This was not quite the banner year for tech ...
Karuna Therapeutics, NextCure, and Cortexyme aren’t household names when it comes to investors looking at initial public offerings (IPOs), but they’ve been generating big-time returns for investors who didn’t buy into the hype of more familiar names like Uber or Lyft. “The long-awaited debuts of mega unicorns Uber and Lyft were mega busts, capped off by WeWork’s kamikaze IPO attempt in September,” said Kathleen Smith, principal at Renaissance Capital.
With just a few days left in 2019, it's fair to say some of this year's most ballyhooed initial public offerings, such as Lyft (LYFT) and Uber (UBER), disappointed investors. It's also fair to say the Renaissance IPO ETF (IPO) has been anything but disappointing as that ETF is higher by almost 34% as of Dec. 24. IPO tracks the rules-based Renaissance IPO Index, which adds sizeable new companies on a fast entry basis and the rest upon scheduled quarterly reviews.
Compared to last year’s blockbuster number of 35 deals and proceeds of $9 billion, 25 Chinese companies listed in the U.S. in 2019, raising a total of $3.5 billion, according to data compiled by Renaissance Capital.
Lyft is opening up to other pathways to profitability and one space could be car rentals. The ridesharing company said it would be offering a car rental service that will allow consumers to rent a car without having to visit an actual brick-and-mortar rental service location. Choose free add-ons like ski racks, car seats, and tire chains.
Initial public offerings (IPOs) have been akin to a “white elephant” Christmas gift in an investor’s portfolio—something they’d like to give away, but some IPOs have been the gifts that keep on giving as in the case of three specific companies—Beyond Meat, Zoom Video and Palomar Holdings. With names like ridesharing companies Uber and Lyft as examples of IPOs that are trading below their initial price offerings, it’s difficult for investors to fathom capital allocations to more startups-turned public companies. “An IPO is no longer a hot ticket,” wrote Rick Munarriz in Motley Fool.
It seems like startup WeWork can’t catch a break as corporate bonds of the commercial real estate company continue to plunge following an assessment of its financial health. WeWork is scrambling to re-instill investor confidence following a $10 million bailout.
It seems like startup WeWork can’t catch a break as corporate bonds of the commercial real estate company continue to plunge following an assessment of its financial health. The core business of WeWork centers around renting out work spaces to start-ups and other businesses. “The company’s bonds briefly punched above 91 cents on the dollar on Oct. 14 amid optimism about a planned multibillion-dollar rescue of the platform, but sank in trading the next day as bankers circulated a rescue proposal that would have added more debt to the company,” the MarketWatch report noted.
The path to profitability will be a two-year trek for ridesharing company Uber as CEO Dara Khosrowshahi said the hope is for the company to churn a EBITDA profit by the year 2021. In the meantime, investors ...
I'd hate to be a startup CEO going into the market to raise money these days, mostly because investors are pulling back on just how much they'll pony up, asserts Ian Wyatt, editor of Million Dollar Portfolio.
Lyft shares got a lift from an earlier-than-expected profit forecast after startup co-founders Logan Green and John Zimmer said the ridesharing company could churn a profit by the year 2021. Shares of Lyft jumped as high as 8% in Tuesday’s trading session. Lyft made its IPO debut back in March, but with no clear path to profit, shares of the company stumbled.
While IPO's have been a mixed bag this year, with huge winners like Beyond Meat, and more recent disappointments like Peloton, one new development that could affect the market is that lock-up periods are expiring for this year’s IPO class, which analysts say could introduce a new layer of pressure for immature companies. Lock-up periods, which prevent insiders who acquired shares of a company's stock before it went public from selling the stock for a stated period of time after it goes public, typically range from 90 to 180 days after the date of the IPO. “As lock-ups expire, some of that shortage of supply goes away,” said Nick Colas, co-founder of DataTrek Research.
At front and center is the U.S.-China trade war when it comes to the wall of worry for investors, but market expert Jim Cramer says that the number of initial public offerings (IPOs) flooding the capital markets is also posing a tangible risk. With IPOs like Uber, Lyft, WeWork, and most recently, Peloton, not living up to their exorbitant valuations prior to their introductions on the stock market, it’s given Cramer and others something to think about. “Just say no to IPO,” Cramer said on “Squawk on the Street.” “The market can’t handle another IPO.
Last week, startup company Peloton fell as much as 15% from its initial public offering (IPO) price of $29. The exercise equipment company may be the latest in a string of IPO’s that have stumbled coming out of the gates, but it highlights the need for investors to get more broad exposure to IPOs via the Renaissance IPO ETF (IPO) . Various analysts are already using Peloton as a case-in-point scenario that would detract investors from IPOs.
Luxury fitness company Peloton (PTON) began trading on Nasdaq Thursday at a price range of $29 per share. In exchange for issuing 40 million Class A shares, the company raised $1.16 billion, which values Peloton at $8.1 billion. Peloton is the first company to make cycles and treadmills equipped with screens for users to join live and recorded fitness classes remotely, taking interactive sports to a new level. Peloton's roughly $2,000 high-tech bicycles and $4,000 treadmill enable it to maintain strong margins.
While the steam may be coming out of an extended bull run in 2019, it's been a white-hot year for initial public offerings, which has been fueling IPO-focused ETFs. In fact, there have been 16 IPOs that have already reached the $10 billion mark, particularly in the cloud computing space. “All the IPOs are on track to get that.
Crude oil is seeing a massive price spike on Monday following drone strikes on a Saudi oil facility at Abqaiq and at a nearby Khurais oil field on Saturday, hamstringing 5.7 million barrels of daily crude production or 50% of the kingdom’s oil output. Saudi Aramco, the national oil company, reportedly is attempting to restore about one-third of its crude output, or 2 million barrels by Monday, amidst plans to release its IPO. However, Bloomberg News reported it could take weeks before Aramco restores the bulk of its production at Abqaiq.
Little change occurred among top stock funds during the past month as the major market indexes rallied back near all-time highs.
Exchange-traded fund (ETF) investors looking to jump head first into funds that focus on initial public offerings shouldn’t be dissuaded by the recent devaluation of real estate company WeWork. For seasoned real estate investors, WeWork is something they’re advising others to approach with due diligence. “Every single company in this space has gone broke,” he said, pointing to WeWork’s IPO disclosure last month of net losses of more than $900 million for the first six months of 2019 on revenue of $1.54 billion.
Slack's sales growth has been stagnating, a trend which it expects to continue. The company attributes the lower growth percentage to lengthy service outages. Slack said that its results were damaged by $8.2 million of credits from the service disruptions during the quarter.
The past year has seen a plethora of activity in the startup sector—some good and some bad—health care startup Ubiome certainly speaks to the latter. The company folded by filing for bankruptcy after only five months following an FBI raid, but startup investors shouldn’t fret as the initial public offering (IPO) market can still be a good bet. The core business of Ubiome surrounded gut-health tests, but investors got punched in the stomach after it filed for Chapter 11 bankruptcy recently.