(Katie Brockman)
If you’re searching for new stocks to add to your portfolio, initial public offerings (IPOs) can be a tempting option.
An IPO occurs when a company begins offering shares of stock to the public, and it can be an exciting time for investors who want to get in on the ground floor, so to speak. IPOs offer investors the chance to buy a company’s stock for the very first time. If that company ends up thriving and its stock price soars, early investors could stand to make a lot of money.
That said, IPOs can be risky, too. Not all IPOs will succeed over the long term, so it’s important to make sure you know what you’re getting into before you invest.
By doing as much research as you can on recent IPOs — including these three companies that went public in October — it will help determine whether they’re the right investment for you.
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1. GitLab (GTLB)
GitLab (NASDAQ: GTLB) officially went public on Oct. 14, priced at $77 per share. In the day following its IPO, its share price increased by nearly 11%.
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The software company specializes in streamlined solutions, allowing developers to collaborate on projects more efficiently through a single platform. It was launched in 2011, and since then it has built a community of more than 30 million users. It’s also a pioneer in the field of remote work, with more than 1,500 remote employees across 66 countries.
2. Portillo’s (PTLO)
Portillo’s (NASDAQ: PTLO), a Chicago-based fast-casual restaurant, began trading on Oct. 21 for a price of $20 per share.
The company announced its plans to go public over the summer, and the capital it raised from its IPO could help the restaurant chain continue to expand. It currently has 67 locations across nine states, and it also ships its food across the country through its website. The company aims to grow to more than 600 locations within the next 25 years, according to a filing with the U.S. Securities and Exchange Commission.
3. Cognition Therapeutics (CGTX)
Cognition Therapeutics (NASDAQ: CGTX) went public on Oct. 8 with a stock price of $12 per share. The company raised approximately $45 million as a result of its …….
Source: https://elkodaily.com/business/investment/personal-finance/3-companies-that-went-public-last-month/article_eecfd0c6-f14f-5d4d-a4bf-286b9ab66f5d.html
