The surging IPO company Redfin Corp (NASDAQ:RDFN) has been surging at an abrupt rate last Monday, the online residential real-estate firm managed to close with an almost 40% increase last Friday sparking a new hope for start-up IPO companies. The growing tension between former IPO companies such as Snap Inc (NYSE:SNAP) has been troubling a handful of investors lately.
Redfin has been surfing the positive waves and warm welcome that most investors give through the last months when it comes to tech-driven or tech related stocks; they are really looking to capitalize on the growing popularity of such IPO’s despite certain step backs from much younger companies.
Redfin’s Bullish Run
Redfin has been one of the underlying IPO companies that have emerged in the past year; lately, they managed to reap a wonderful reward as their shares bolstered to new heights despite the big turmoil younger IPO companies are in. The massive increase the tech-driven real estate company has been a big breather for younger IPO companies as a massive recession on their prices concludes over the past weeks, and even months.
The tech-driven real estate manages to hit a whole new high, trampling the $12 and $13 per share prices most analysts are forecasting; it manages to score a whopping $15 price per share at $9.2 million and recently, the company manages to reach a massive high on its prices reaching to at least $21.70 per share or a momentous 44.7% increase on its initial trading as an IPO.
NASDAQ’s Nelson Griggs noted that “Redfin has been redefining the real estate industry since its inception, and we are proud to have them join Nasdaq's family of innovative companies as they continue to disrupt the market with new and unprecedented ideas,"
What Happened to Snapchat?
One of the most anticipate and largely popular social media site turned IPO recently last Year, Snapchat, has been on a massive bearish run this year. The social media giant’s share manages to fall on a ridiculous note, the most recently last Wednesday; its underperformance has been blowing a lot of investors trust out of the waters since it started as an IPO.
On recent figure reports, Snapchat’s shares were down by a whopping 43% in the past three months that it has been an IPO; the huge dent has been a big sulk for the company and its investors. Most recent slumps were around the figures of 4% lower at a certain point, dropping its shares to troubling $12.52 per share.
Although the tides might have been turning because of the recent warm welcome the market and most investors gave Redfin; the tech-driven stocks and IPO have been a clear winner in the recent months and there is a clear support for this kind of IPO.