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To say 2019 had some high-flying companies hit the stock market is an understatement. But underperforming, big-name unicorns like Uber (UBER), Lyft (LYFT), and SmileDirectClub (SDC) have left Wall Street with a bad taste in its mouth thanks to double-digit declines from their IPO prices.
Still, a number of other firms that launched their IPOs in 2019 have seen some impressive gains. We’re talking about the type of stock price growth that most companies and investors could only dream of…
Since so many firms issued their IPOs in 2019, we’re sticking to those that raised more than $250 million in their big debut.
These are the top 5 performing IPOs of 2019, as compiled by Renaissance Capital, which runs an IPO ETF.
5. Tradeweb — up 68.15% since IPO
Tradeweb (TW) is a trading platform working in the fixed income and derivatives markets. The company builds out over-the-counter trading marketplaces and works with some of the largest banks in the world.
And its stock has been on a hot streak since it went public in April at $27 a share. As of the close of the markets on Dec. 10, the stock had grown by an outstanding 68.15% to $45.40.
It doesn’t hurt that the company uses a subscription model that brings in a constant stream of revenue.
“Tradeweb is a profitable electronic trading platform,” Katheleen Smith, IPO ETF Manager at Renaissance Capital, explained. “They are trading fixed income and derivatives on the platform — that’s an area that needs efficiencies that these guys have been solving.”
4. 10X Genomics — up 69.10% since IPO
A biotech startup that debuted in September, 10X Genomics (TXG) is on an absolute tear. Initially offered at $39 a share, the company’s stock was up 69.10% when it closed at $65.95 on Dec. 10.
The firm produces gene-sequencing platforms that scientists use to look at cells linked to various cancers, kidney disease, brain development, and more. That, according to Smith, means 10x Genomics offers a lot of recurring, consumable revenue from organizations using its sequencing platform.
“It was not profitable, but you could see the setup for profitability,” Smith said, adding that the company is fast growing and could become profitable by the end of this year.
3. Zoom — up 79.36% since IPO
Video chat software company Zoom (ZM) was a rare unicorn that was actually profitable when it came to market in April with a list price of $36.