Investing
Are the Pinterest and Zoom IPOs Cooling Off?
Published:
Last Updated:
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.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
