IPO Recap: Toast surges 56% in NYSE on its trading debut
At the close on the last trading day, the NASDAQ Composite index rose1.02%. The DowJones Industrial Average climbed 1.00% and the S&P 500 index rose 0.95%.
On Wednesday, there was no traditional IPO filed while 4 new stocks officially listed for trading, including 3 traditional IPOs and one Nasdaq uplift ( $VersaBank(VBNK.US$ ).
$Toast(TOST.US$ priced its IPO at $40 on Tuesday, above the expected price range of $34 to $36.
Toast is a cloud-based, end-to-end technology solution for restaurants providing a suite of SaaS products and financial technology solutions including integrated payment processing, restaurant-grade hardware, and an ecosystem of third-party partners.
The company served over 48,000 restaurant locations across roughly 29,000 customers, and processed over $38 billion of gross payment volume for the 12 months ended June 30, 2021.
Founded in Chennai, India in 2010, $Freshworks(FRSH.US$ ‘s customer management products include Freshdesk Support Desk, which helps businesses interact with end users and respond to customer service requests across multiple channels. And Freshdesk Customer Success helps B2B subscription companies manage their customers.
The company, whose clients include Vice Media, Klarna and Delivery Hero, said in a recent SEC filing that its last 12 months’ revenue amounted to $308 million, a 49% increase year over year.
Language-learning company $Duolingo(DUOL.US$ , founded in 2011, aims to help build a future where high quality education is available to everyone.
Duolingo offers 95 courses across 40 distinct languages — from the world’s most spoken, such as Spanish, French and Italian, to endangered languages like Hawaiian, Navajo and Scottish Gaelic.
The products are powered by sophisticated data analytics and artificial intelligence that make it easier for learners to stay motivated, master new material, and achieve their learning goals.
As of Sep 22th，it had a market cap of $7.54 billion. It went public on July 27th, 2021, with a first-day gain of 36.28% and a listed-to-date gain of 97.90%.
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Riding the IPO wave, and find the new bull!
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