This shortened market week has been a busy time for IPOs, with shares of Coursera, Frontier Airlines, and Compass going public. Some are trading up, some are trading sideways, and others are falling:
🎓Coursera, a digital EdTech platform backed by Google and major universities, went public on Wednesday to great fanfare with investors. $COUR was priced at $33 per share on Tuesday before their IPO, but began trading much higher. By the end of Wednesday, the stock was worth $45. Today, the stock climbed as much as 13% in session before closing out the day with a marginal 1.5% gain.
✈️ Airline company Frontier Group started trading today. It closed out the day below its offering price of $19 per share. Frontier, a quaint budget carrier with a little over 5% of the market share, is the second airline to come to market during the pandemic. $ULCC is down just 0.8% today. It’s a signal that the airline industry is starting to take off again.
🧭Real estate company Compass, backed by SoftBank (y’know, the same people who brought you WeWork and a CEO who likened being bad at investing to being ‘misunderstood like Jesus’), downsized their IPO price range on Wednesday because of perceived lower demand. Even after the slight cut, $COMP ended up down 4.4% on their IPO day.
So, what IPOs have you been watching or getting in on?