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Carvana Co. (NYSE: CVNA) leads the list of winners in our recent IPO* movers for the week with a nearly 40% gain. After an underwhelming debut in April, the used car e-commerce platform's share price has been on a roller-coaster ride. Last week saw a new high for the Phoenix-based company after it beat earnings estimates by a penny, but it's worth noting that prices turned negative as soon as markets opened this week.
Texas-based At Home Group Inc. (NYSE: HOME) rose over 20%. In spite of the ongoing "Retail Ice Age," a better-than-expected earnings report boosted share prices dramatically on Wednesday. Earnings per share came in at $0.19, up 27% from a year earlier, and revenue beat expectations by $3.14 million. The home goods retail chain debuted last August and is now up almost 50% in 2017.
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On the losing side, Swiss pharmaceuticals company ObsEva SA (Nasdaq: OBSV) fell 22.7% for the week. The company missed expectations by a considerable margin in late May and is now trading at less than half of its January IPO price of $15. The silver lining for the week was the successful completion of phase 1 clinical trials for a major drug in its pipeline, and Zacks Investment Research upgraded OBSV from "Sell" to "Hold" over the weekend. However, the stock continued to fall on Monday.
There's no such silver lining for Fulgent Genetics Inc. (Nasdaq: FLGT), which after a 20.3% drop last week was downgraded to a "Sell." The genetic testing company has been in a free fall since early May and has dropped more than 55% on the year. That's in spite of being one of the few companies on the list (winners or losers) that is actually profitable, even if it's only three cents a share.
*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.
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About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.