Here's the IPO class of 2020
Yahoo Finance’s Ines Ferre joins Zack Guzman to discuss the IPO class of 2020 and how the coronavirus could impact other companies looking to go public.
Video Transcript
ZACK GUZMAN: But right now, I want to dig into a lot of the action we're seeing return on the IPO front as companies go public. Of course, it was a very slow start to the year when you think about the uncertainty that came from the coronavirus pandemic. But since then, we've seen a few noteworthy IPOs. Even just yesterday, we got Vroom coming out and showing the strongest start for any tech company since 2018, doubling in its debut. And for more on all the reasons why companies are now very quickly lining up to go public, want to get to Yahoo Finance's Ines Ferre for more on that. Ines?
INES FERRE: And, Zack, if you just take a look at Vroom right now, it's up another 4% after soaring yesterday. A very warm welcome for IPOs over the last week. This week, there's eight by the end of this week that will happen. And if you just take a look at some of them, we're looking at ZoomInfo, which went public last week. ZoomInfo today up more than 8%. But if you just take a look at the-- just I'll show you a five-day chart, and you can see up 59% since it went public last week.
Shift4 Payments also-- I know that you guys had interviewed the CEO of Shift4 Payments-- also a very warm reception. They priced their IPO at $23 a share. You can see it's at 35 right now. And then also Warner Music. Warner Music Group is up today-- it was down today 2%, but it's sitting at around $31 a share. The company had priced its IPO at $25 a share. So there's others that are coming. We've got Generation Bio, which priced its IPO at anywhere between 16 and 18. That's the range for each share.
Also, Azek, which is a deal that's valued at 635 million. They manufacture composite materials for outdoor living. And then other IPOs which will be coming, which we don't know exactly when, but we know there's reports that Snowflake-- that's the cloud-based data startup-- that company has confidentially filed for an IPO. Albertson's, we're waiting for-- to see when that company will go public. And also, Royalty Pharma, another company to watch out for as it goes public as well.
ZACK GUZMAN: All right, Ines Ferre bringing us the latest on the IPO front. Appreciate that update. For more on this, I mean, when we back up and just look at the overall performance, interesting to note that the-- that the ETF tracking newly-public companies, Renaissance IPO ETF, up more than 20%, while the S&P is flat. So clearly, a lot of these companies Ines just highlighted catching a boost right out of the gate.
