As curtain falls on 2021, let’s revisit 5 hottest IPOs of the year

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As curtain falls on 2021, let’s revisit 5 hottest IPOs of the year

 As curtain falls on 2021, let’s revisit 5 hottest IPOs of the year
Image source: Mikko Lemola,Shutterstock

Highlights

  • Bumble Inc. (NASDAQ: BMBL) eyes fiscal 2021 revenue between US$765 million and US$768 million.

  • Roblox Corporation (NYSE: RBLX) revenue jumped 102% YoY in Q3, FY21.

  • Robinhood Markets, Inc. (NASDAQ: HOOD) revenue surged 35% YoY in Q3, FY21.

The US market has witnessed a flurry of IPOs this year. The momentum picked up after the successful public offer of vacation rental company Airbnb in December 2020.

The IPO rush reflects the companies' growing appetite to go after the opportunities and demand in the market and turn them into a win-win profit-making reality.

Here we list the five hottest IPOs that hit the global headlines in 2021.

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Rivian Automotive, Inc. (NASDAQ: RIVN)

Rivian is an electric vehicle manufacturer based in Irvine, California.

The company went public on Nov 10, bringing its valuation to around US$100 billion, making it one of the biggest US IPOs of all time. Its shares traded at US$98.70 at 7:34 am ET on Dec 30, down 0.64% from their previous close. The stock declined 19.23% YTD.

Rivian’s current market cap is US$89.43 billion, and the forward P/E one year is -18.96. The 52-week highest and lowest stock prices were US$179.47 and US$88.40, respectively.

Its trading volume was 8,754,919 on Dec 29.

It recorded a revenue of US$1 million in Q3, FY21, compared to zero revenue in the same period a year ago. Its net loss was US$1.23 billion against a loss of US$288 million in Q3, FY20.

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Hottest IPOs of 2021

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Bumble Inc. (NASDAQ: BMBL)

Bumble is an online dating platform based in Austin, Texas. Its mobile dating app enables users to connect and build a relationship on their terms. It went public on Feb 11, 2021.

The stock was priced at US$33.00 at 8:02 am ET on Dec 30, up 1.04% from its previous close. The BMBL stock fell 53.55% YTD.

Its market cap is US$4.22 billion, the P/E ratio is 20.94, and the forward P/E one year is 816.50. The EPS is US$1.56. The stock saw the highest price of US$84.80 and the lowest price of US$30.10 in the last 52 weeks. Its share volume on Dec 29 was 896,495.

The company's total revenue jumped 24% YoY to US$200.5 million in Q3, FY21. It reported a net loss of US$10.7 million against a loss of US$22.8 million in Q3, FY20.

For the fourth quarter of fiscal 2021, the company expects its revenue to be between US$208 million and US$211 million. It anticipates its fiscal 2021 revenue to be in the range of US$765 million to US$768 million.

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Roblox Corporation (NYSE: RBLX)

Roblox is a technology company based in San Mateo, California. Its gaming platform has billions of users. It went public on March 10, 2021.

Its shares traded at US$97.27 at 8:12 am ET on Dec 30, down 0.07% from their previous close. The stock gained 40.06% YTD.

Roblox has a market cap of US$56.34 billion and a forward P/E one year of -110.61.

Its 52-week highest and lowest stock prices were US$141.60 and US$60.50, respectively. Its trading volume was 9,989,100 on Dec 29.

The revenue jumped 102% YoY to US$509.3 million in Q3, FY21. Its net loss attributable to common shareholders was US$74.00 million, against a loss of US$48.61 million in Q3, FY20.

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Coinbase Global, Inc. (NASDAQ: COIN)

Coinbase Global is a financial technology company that runs a cryptocurrency exchange. It offers crypto trading and storing facilities. It debuted in the US stock market on April 14, 2021.

The stock was priced at US$254.68 at 8:21 am ET on Dec 30, up 0.82% from its previous close. The stock tumbled 23.05% YTD.

Its market cap is US$66.15 billion, and the forward P/E one year is 17.97. The stock saw the highest price of US$429.54 and the lowest price of US$208.00 in the last 52 weeks.

Its share volume was 3,447,000 on Dec 29.

The total revenue was US$1.23 billion in Q3, FY21, compared to US$286.7 million in the same quarter of the previous year. Its net income came in at US$406.10 million, or US$1.62 per diluted share, against US$81.29 million, or US$0.23 per diluted share in Q3, FY20.

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Top IPOs: RIVN, BMBL, RBLX, COIN, HOOD

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Robinhood Markets, Inc. (NASDAQ: HOOD)

Robinhood is a financial services firm based in Menlo Park, California. It develops management applications for stocks, ETFs, and other assets. The company went public on July 29, 2021.

The shares of the company traded at US$17.13 at 8:51 am ET on Dec 30, up 0.12% from their previous close. The stock fell 50.86% YTD.

It has a market cap of US$14.70 billion, and a forward P/E one year of -85.55. The 52-week highest and lowest stock prices were US$85.00 and US$16.68, respectively.

Its trading volume was 12,523,000 on Dec 29.

The total revenue of the company was US$365 million in Q3, FY21, an increase of 35% YoY. It reported a net loss of US$1.32 billion, or US$2.06 per diluted share, compared to a loss of US$11 million, or US$0.05 per diluted share in Q3, FY20.

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Bottomline

More than 2,300 IPOs were filed globally in the first three quarters of 2021 compared to around 1,300 IPOs for the entire 2020. The US, on the other hand, saw over 950 IPOs. The US IPO market has cooled down in the last two months, heading into the New Year. But experts anticipate a robust comeback in 2022, with several big-ticket public offers in the pipeline.

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