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What are the top 8 IPOs by trades?
Investors looking to outperform the market are continuing to look at initial public offering stocks despite recent market volatility.
What are the top 8 IPOs by trades?
Investors looking to outperform the market are continuing to look at initial public offering stocks despite recent market volatility.
Following a slow start to the year with many businesses delaying floats, the third quarter of the year saw a significant pick-up in training volume.
Investment platform eToro has crunched the numbers on the IPOs that were most popular among traders after listing.
Leading the charge was American software company Palantir, which saw the largest number of trades by eToro users globally in the days after going public, compared with other recent IPOs.
“On 30 September, which was its first day of trading, Palantir saw a huge volume of trades on eToro, beating the number of trades placed on Warren Buffet-backed Snowflake on its first day (16 September),” eToro’s market analyst Josh Gilbert said.
“Many investors would have been attracted to the $9 share price of Palantir and the fact that it is well valued, trading at just 14 times its projected revenue. In comparison, Snowflake’s current valuation is 230 times its revenue, with a share price of more than $250.”
The trading volume on Palantir stocks rapidly declined from its opening days as many inventors decided to hold the stock.
Taking the silver medal was American video game software development company Unity Software, which has also been another popular stock among investors.
“The stock has continued to see a high number of trades, even after its original IPO date. The number of holders of Unity on eToro increased by 320 per cent from 18 September (its first day of trading) to 6 October, and this is likely to be a result of the share price increasing by 21 per cent in the same time period. Since 6 October, the share price has increased another 19 per cent,” Mr Gilbert explained.
Mr Gilbert told investors that bigger floats could be coming at the end of the year.
“Investors are eagerly awaiting two highly anticipated IPOs from Airbnb and Ant Financial Group, which are both expected to list later this year, with Ant Financial predicted to be the biggest IPO ever,” Mr Gilbert concluded.
The list includes:
- Palantir
- Unity Software
- Snowflake Inc.
- Asana
- Sumo Logic Inc.
- Jfrog Ltd
- American Well Corp
- Vitru Ltd
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