Could the Successful Bill.com IPO Spell More Trouble for Paypal?
Last year's Bill.com (NYSE: BILL) IPO was a resounding success that has led into a consistent first month of returns for investors. After selling 9.82 million shares starting at $22 and raising roughly $216 million for the company on a $1.6 billion valuation, buy-and-holders now enjoy an additional $16 per share cushion at the ticker's $38.00.
The Bill.com process stands in stark contrast to the rocky roads of other 2019 high-profile billion dollar IPOs. Uber (NYSE: UBER) opened at $45 per share and has lost 30.29% since then. Its rival Lyft (NASDAQ: LYFT) didn't fare much better, opening at $72 and currently standing at a 40% loss. SmileDirectClub (NASDAQ: SDC) dropped from $23 to $8.38, a 63.6% loss. WeWork (no call sign yet:IPO cancelled) had to oust founder Adam Neumann and hasn't made its offering even into 2020. Can't forget Pinterest (NYSE: PINS), either. Pinterest is obviously super popular with Joe Average, but it's lost 3.36% since its $19 April IPO price – in a market with Joe Average blue chips skyrocketing across the board.
What was the difference between Bill.com and these other 2019 "unicorns"?
Source Fool.com
