Are the Pinterest and Zoom IPOs Cooling Off?
Pinterest and Zoom Video Communications captured the attention of many investors when they came public last week. Each company saw explosive gains out of the gate on Thursday, but let’s check in on day two for these up and coming…
[cnxvideo id=”768887″ placement=”prodege”]Pinterest Inc. (NYSE: PINS) and Zoom Video Communications Inc. (NASDAQ: ZM) captured the attention of many investors when they came public last week. Each company’s stock saw explosive gains out of the gate on Thursday, but let’s check in on day two for these up and coming firms.
While each of them notched at least a 27% gain on Thursday, they were holding steady to start out this week.
For those uninitiated, Pinterest operates a social media site that is similar to an online scrapbook. Basically, Pinterest allows users to create a compilation of images and other media according to their interests, hobbies and so on. Then users may share their media or “pins” with other users.
Some companies have taken advantage of Pinterest’s opportunities as a means to captivate hobbyists and grow their own customer bases. The company recently developed a “Buy” button on the site that allows users to purchase goods from other companies through the Pinterest site.
Zoom, on the other hand, provides a video-first communications platform that fundamentally changes how people interact. Zoom connects people through frictionless video, voice, chat and content sharing, and it enables face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations.
Its cloud-native platform delivers reliable, high-quality video that is easy to use, manage and deploy, provides an attractive return on investment, is scalable and easily integrates with physical spaces and applications.
Shares of Zoom were last seen up more than 5% on the day at $65.35, in a post-IPO range of $59.94 to $66.00. Shares originally priced at $36, just above the expected price range of $33 to $35. However, shares are up roughly 76% compared to the pricing.
Pinterest traded at $24.26 a share, down fractionally midday Monday. It has a post-IPO range of $23.05 to $25.18. The stock originally priced at $19 per share, with an expected price range of $15 to $17, and it is up 27.8% from this pricing.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
