Better Tech IPO: Palantir Technologies vs. Asana
Palantir Technologies (NYSE: PLTR) and Asana (NYSE: ASAN) both recently went public via direct listings, meaning they sold their existing shares to investors without raising new funds instead of filing traditional IPOs. Both stocks started trading on Sept. 30, and surged from the initial "reference prices" set by the NYSE.
Palantir, which had a reference price of $7.25, closed at $9.50. Asana, which had a reference price of $21, closed at $28.80. Those initial gains were impressive, but should investors chase either high-growth tech stock right now?
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Source Fool.com
